It has often been said that no one becomes a teacher to get rich. The rewards for being an educator reach far beyond the paycheck that comes in. Even so, there's no reason why teachers should not be able to retire with dignity after years of service to the families and their communities.
For a long time, teachers relied on state-run pension plans to provide a large portion of their retirement income. But now, teacher pension plans are underfunded by billions of dollars, and states have been forced to cut benefits for future retirees. Teachers can no longer depend on their pensions to provide the same retirement lifestyle yesterday's teachers enjoyed. It's now more important than ever that teachers have a plan to supplement their pensions with their own savings.
Even Teachers Benefit From Teaching
Teachers often tell their students that "Knowledge is Power". That can also apply to teachers when it comes to financial planning and retirement! Meisel Financial Services can help you develop your retirement investing plan and keep you on track for the long-term, which is one of the most important factors in the success of your plan. We can show you all of your options and how they work together to give you a secure financial future - a retirement that offers you a choice of travel, visiting family, or even volunteering your time to continue training young minds.
If you're getting close to retirement, you often will have many confusing choices on how to receive your pension and what to do with any retirement accounts you have accumulated along the way. Please contact us to review your options for transitioning into retirement after a long career of teaching.
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