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Power Your Retirement
Hosted by Steve Smit, CERTIFIED FINANCIAL PLANNER® and founder of Powerhouse Financial Advisors, this podcast is designed to help employees of large publicly traded utility companies take control of their retirement planning. Steve, author of Power Up Your 401(k), shares insights on maximizing 401(k) options, navigating self-directed brokerage accounts, and creating a secure financial future. Tune in for practical advice, helpful resources, and strategies to power up your retirement! Subscribe and never miss an episode! Also available in video format on YouTube. For more information about Power Your Retirement, visit PowerhouseFinancialAdvisors.com or call 775-266-8867.
Power Your Retirement
Cash Balance Pension vs. Traditional Pension Explained
If you’ve been in your utility job for years and still don’t understand how your pension works, you’re not alone. In this episode, Steve takes a listener question from Lisa. She’s been working for 15 years and asked a commonly misunderstood question: What’s the difference between a cash balance pension and a traditional pension?
Tune in as Steve breaks down the key differences and why it matters!
Here’s some of what we discuss in this episode:
📊 Traditional vs. cash balance pensions- what’s the difference?
💰 How a cash balance pension grows with guaranteed employer contributions and interest
🧠 Why your pension type should guide your 401k investment decisions
🛠️ Aligning your pension + 401k strategy
Get your copy of Power Up Your 401K in our toolkit: https://keap.page/ngt919/toolkit.html
Follow along on YouTube: https://www.youtube.com/channel/UCEE5ZkDedYTsKzkh2UxQ9Sg
Book your 401(k) Onboarding Meeting with Steve: https://calendly.com/steven-powerhouse-advisor/401-k-retirement-meeting-1-hour-clone?month=2024-12
Other ways to get in touch:
Phone: (775) 266-8867
Our website: https://powerhousefinancialadvisors.com/
Email: info@powerhousefa.com
LinkedIn: https://www.linkedin.com/company/powerhouse-financial-advisors/
Facebook: https://www.facebook.com/PowerhouseFinancialAdvisors
