Retired in America

Your Guide to a Confident Retirement

  • Home
  • Personal finance
  • Retirement Life
  • Saving & Spending

15 Planning Mistakes That Can Hurt Your Retirement

March 10, 2020 · Retirement Life

Cashing Out Your Pension

If your financial advisor recommends you to cash out your pension from your former employer, but if you don’t actually need the money right now, following his advice might not be the best idea. That’s because he will be the one that would benefit the most from this action and make thousands of dollars in commission.

According to the Pension Rights Center, the only time you should consider cashing out a lump-sum from your employer is if you’re ill, your life expectancy is short or you don’t have a surviving spouse who will depend on a lifetime income.

Pages: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

Latest Posts

  • An older couple enjoys lunch on a sunny stone terrace overlooking a coastal Portuguese town with terracotta roofs and a blue sea. This European Country Lets Retirees Live on Half Their US Budget
  • A grandmother stands quietly in a cozy kitchen while her adult daughter feeds a toddler at the table, capturing a subtle family moment. 10 Signs You're Overstepping as a Grandparent
  • 2027 IRMAA Bracket Forecast: Estimated Income Thresholds by Filing Status 2027 IRMAA Bracket Forecast: Estimated Income Thresholds by Filing Status
  • A woman in her mid-60s sits at a sunlit wooden kitchen table, circling a date on a paper wall calendar. The Birthday That Changes Your Medicare Options Forever
  • An older couple sitting at a sunlit kitchen table reviewing financial documents together in a warm, candid moment. How Much You'll Actually Get From Social Security at Every Age
  • An older man with silver hair smiles warmly while working behind the front desk of a brightly lit local community center. 6 Part-Time Jobs at Community Centers for Retirees
  • An older couple sits at a wooden kitchen table in morning light, carefully reviewing Medicare paperwork and calendars. The Medicare Deadline That Sneaks Up on Retirees Every Year
  • An older couple reviewing retirement planning documents together at a sunlit kitchen table, capturing a warm and organized moment. Medicare Part B vs Part D: A Side-by-Side Breakdown
  • What $3,000 a Month Really Looks Like in Retirement Based on Where You Live What $3,000 a Month Really Looks Like in Retirement Based on Where You Live
  • An older couple in casual clothes sitting at a wooden kitchen table, looking at a tablet together in warm natural light. Here's What the Average Social Security Check Is in August (How Do You Compare?)

Newsletter

Get retirement planning tips, savings strategies, and lifestyle insights delivered to your inbox.

Related Articles

Best Places to Retire in the USA in 2026 (Affordable, Safe & Tax-Friendly Picks)

Conclusion: Making the Right Retirement Decision in 2026 Choosing where to retire is ultimately a…

Read More →

7 Social Security Scams You Need to Pay Attention to

Do’s and Don’ts Sherin advises people to protect their assets by not responding to these…

Read More →

The Pandemic Cut Into Your Retirement Savings? Here’s How You Can Recover

Buy off your car and keep using it According to the latest Experian State of…

Read More →
Happy seniors couple in front of their new home

The Most Desired Places to Retire in USA

States that consider retiring on the West Coast People who put the West Coast at…

Read More →

15 Things That Make Seniors’ Lives Easier

Key Turner – $7.99 on Amazon Key turners are helpful little things that once set…

Read More →

Here’s the No. 1 Reason Seniors Work Well into Retirement

A recent poll has looked at the retirement situation in America, bringing to light some…

Read More →
A happy retired woman working on her laptop on a sunny patio.

19 Quick Ways to Earn Some Extra Cash During Retirement

Discover 19 flexible, practical ways to earn extra cash during retirement, from remote consulting and…

Read More →

30 Expensive Cities Retiree’s Will Want To Avoid

Banning, California In this beautiful town located at the base of Mount San Gorgonio, seniors…

Read More →

10 Unexpected Threats to Your Retirement in 2022

Long-term care expenses – If you haven’t planned for a sudden medical situation that might have…

Read More →
Retired in America

Your Guide to a Confident Retirement

Inedit Agency S.R.L.
Bucharest, Romania

contact@retiredinamerica.com

Trust & Legal

About Us

Editorial Policy

Advertiser Disclosure

Frequently Asked Questions

Contact Us

Disclaimer

Terms and Conditions

Privacy Policy

Subscribe

Unsubscribe

Categories

  • Personal finance
  • Retirement Life
  • Saving & Spending

© 2026 Retired in America. All rights reserved.