How do you envision your golden years? For many, it means traveling or just relaxing on sun-kissed beaches, free of the daily grind. Financial security, however, is crucial to a truly idyllic retirement.
The golden ticket to that blissful state used to be a final salary pension, but unfortunately, it no longer exists. Today, the pension landscape has radically changed. In place of final salary plans, defined contribution plans like 401(k)s have become more common. As of November 2023, 22% of non-retirees have defined benefit pensions.
In order to make the most of a final salary pension, it is crucial to understand its complexities. Let’s explore these coveted retirement plans over
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