You Earned Your Pension. Let's Make It Work for You.

The amount you need to retire comfortably depends on your desired lifestyle, current expenses, health care needs, and other personal factors. A common guideline is to aim for 70-80% of your pre-retirement income each year, but it's best to create a detailed budget and consider potential changes in spending. Consulting with a financial advisor can help you determine an amount tailored to your situation.

The right time depends on your union pension plan, your Social Security eligibility, and your personal savings. Waiting longer often increases your monthly benefit, but your health, your job, and your family matter too. We review your plan documents and pension estimates with you and show how different retirement dates could change your income, so you can choose the date that fits your life.

Start by making sure you understand every program open to you, including your pension, your 401(k), health insurance, and supplemental benefits. It's easy to overlook something when no one has walked you through it. We review your benefits and statements with you, explain your options in plain language, and point out choices you may want to look at more closely.

Assessing whether your investments and savings are sufficient requires reviewing your expected expenses, sources of income, and investment performance. Consider factors like inflation, health care costs, and potential changes in your lifestyle. Periodic reviews with a financial planner can help you adjust your strategy along the way, with the goal of making your savings last as long as you need them.

There's no one right answer. The monthly pension gives you a check for life and can protect your spouse. The lump sum gives you more control and can be passed on to your family, but you take on the investment risk. Your health, your spouse, your other income, and how comfortable you are managing a large sum all matter. We lay out both options side by side so you can decide with the full picture. See our lump sum vs. monthly pension page to learn more.

Possibly. If you leave your job in or after the year you turn 55, the "Rule of 55" may let you take money from that employer's 401(k) without the 10% early withdrawal penalty. Another option is a series of equal yearly payments from an IRA, called 72(t) or SEPP. Income tax still applies, and the rules are strict, so a mistake can bring back the penalty. We help you see which option, if any, fits your plan.

Improving your investment allocation begins with understanding your risk tolerance, time horizon, and retirement goals. Diversifying your portfolio, rebalancing periodically, and staying informed about market trends can help. Consider speaking with a financial advisor for recommendations tailored to your needs.

Retirement touches more than your pension. We look at how insurance, taxes, and estate planning fit with your retirement income, and we coordinate with your attorney and tax professional so everyone is working from the same plan. We do not provide tax or legal advice, but we help make sure those pieces are not left out.

That is what we do. Pereira Wealth Management is an independent firm that specializes in working with union members and their families. Nuno Pereira is a Certified Trust and Fiduciary Advisor (CTFA), and he is held to a fiduciary standard when providing investment advice. We explain how we are paid, and what you can expect to pay, before you decide anything. Bring your pension estimate, your 401(k) statements, and your goals, and we'll start from your situation. Call 877-997-7113 or send us a message.