The Hidden Dangers of Pension Buyouts: What Retirees Must Know
In the past, retirees could rely on a combination of a pension, Social Security, and personal savings to navigate their golden years comfortably. However, the landscape of retirement planning has significantly changed. The number of workers with employer-provided pension plans has drastically decreased from 27.2 million in 1975 to just 12.6 million in 2019. This shift necessitates a new approach to retirement planning, focusing on creating alternative income sources. The Evolution of Pension Plans Pension …