NOVI, Mich., Aug. 30, 2019 /PRNewswire/ -- Retirees from Detroit's Big Three Automotive companies may feel like they're on the hot seat as they're being forced to answer the potential million-dollar question ? should I take my pension in the form of a lump sum, or as monthly payments? Retirement might not even be their choice, as these companies continue to reduce their work-forces through layoffs and voluntary severance packages. For example, Ford recently cut 7,000 salaried employees and is likely to continue cutting the workforce over the next few years.
Certified Financial Plannertm professionals Richard Paul and Steven Paul have released the Autoworker's Guide to Lump Sum Pensions: 5 Crucial Questions Retirees from Ford, General Motors, and Fiat Chrysler Want to Get Right.
From their 40+ years of combined experience in dealing with these retirees, they understand that it's a time of major stress, which is precisely what retirees don't want as they head into their non-working years. This down-to-earth guide delves into other retirement planning decisions autoworkers will face, such as how to invest for retirement, when to file for social security, and how to find a financial advisor.
These are not your typical everyday decisions. These are decisions that you need to take your time with and make sure you fully understand your options.
Disclosure: Richard Paul offers advisory services through Richard W. Paul & Associates, LLC, an independent RIA. Richard W. Paul & Associates, LLC is an SEC registered investment advisory firm, with offices located in Novi, Troy and Ann Arbor. Insurance services offered through Midwest Financial Consultants Inc. www.rwpaul.com
SOURCE Richard W. Paul & Associates
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