Having a state pension is a good thing. Retiring and realizing it’s less than you expected is not a good thing.
Eric Crouch, a Georgia public schools Superhero and LifeChanger of the Year’s 2020 Grand Prize Winner, lives and breathes by this motto:
You’re only as good as your backup plan.
Life is all about surprises and, as humans, it’s inevitable that we will be met with many along the way. Retirement income should not be one of them. Unless you’ve mastered omnificence – that’s the ability to create anything without limits for all of you non-superhero nerds – having a clear understanding of just how well that pension of yours is funded, and just how far it will get you, is powerful.
Let’s dig in. There’s this thing called a retirement income gap. It’s the difference between what you’ll have for money coming in at retirement versus what you’ll actually need. Think of it as your nemesis. It may prevent you from fully retiring. Or, weaken your retirement. Nevertheless, it has the ability to make your retirement go rogue.
You need a sidekick, and that, my friend, is called a 403(b). Eric considers this his backup plan and so he tells fellow educators, “using National Life Group just made sense.”
“Having a company like National Life Group that supports educators helps me know that there are people out there fighting for teachers to have those lives they dream about after their careers – and that’s where I am going to put my money”, says Eric.
Having a state funded pension is good, but don’t let it be your kryptonite. While no retirement plan is indestructible, adding a 403(b) plan into your universe will be the justice you need.
That’s called “peace of mind” and you just can’t get any better than that.