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4 Retirement Statistics Every Pension Holder Should Know
Work with me: https://farerfinancial.com/get-started
Most public employees assume their pension means they're ahead of the game. And honestly, they probably are. But there are four statistics that almost nobody in their position has ever seen side by side — and once you see them together, the way you think about your retirement shifts completely.
This episode isn't about whether you have a pension. It's about whether you actually know what your full retirement picture looks like — how far ahead you are, and what's quietly working against you at the same time.
The median retirement savings for Americans aged 55 to 64 is $185,000. If you're a public employee with a pension and a 403(b) or 457, you're likely miles ahead of that number. But having more saved in pre-tax accounts creates its own problem — one that sneaks up quietly around age 73 when the IRS stops waiting. Your pension fills your tax bracket before you touch a single investment. Add forced distributions on top of that, and people who did everything right start paying taxes they never saw coming.
In this episode, Cole walks through four statistics every public employee should understand — what they mean individually, and what they mean when you see them stacked together.
Topics covered:
- Why the median retirement savings for Americans near retirement is $185,000 — and what that means for pension holders who saved well
- Why nearly 1 in 3 people retire before 60, and why public employees can choose to be one of them
- The gap between pension eligibility and retirement readiness — and why most people confuse the two
- Why the median actual retirement age is 62 while workers expect 65, and what that gap costs
- How pre-tax account balances create a growing RMD obligation that stacks on top of pension income
- IRMAA — how Medicare premiums can jump significantly based on income, and why pension households hit those thresholds faster than they expect
- The planning window between pension eligibility and RMD age and how to use it intentionally
This episode is for informational and educational purposes only and does not constitute personalized investment, tax, legal, or insurance advice. Viewing this content does not create an advisory relationship. The strategies and examples discussed are hypothetical and for illustrative purposes only. Always consult a qualified professional regarding your specific situation.Farer Financial LLC is a Registered Investment Adviser registered with the Washington State Department of Financial Institutions.
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By Cole KrilichWork with me: https://farerfinancial.com/get-started
Most public employees assume their pension means they're ahead of the game. And honestly, they probably are. But there are four statistics that almost nobody in their position has ever seen side by side — and once you see them together, the way you think about your retirement shifts completely.
This episode isn't about whether you have a pension. It's about whether you actually know what your full retirement picture looks like — how far ahead you are, and what's quietly working against you at the same time.
The median retirement savings for Americans aged 55 to 64 is $185,000. If you're a public employee with a pension and a 403(b) or 457, you're likely miles ahead of that number. But having more saved in pre-tax accounts creates its own problem — one that sneaks up quietly around age 73 when the IRS stops waiting. Your pension fills your tax bracket before you touch a single investment. Add forced distributions on top of that, and people who did everything right start paying taxes they never saw coming.
In this episode, Cole walks through four statistics every public employee should understand — what they mean individually, and what they mean when you see them stacked together.
Topics covered:
- Why the median retirement savings for Americans near retirement is $185,000 — and what that means for pension holders who saved well
- Why nearly 1 in 3 people retire before 60, and why public employees can choose to be one of them
- The gap between pension eligibility and retirement readiness — and why most people confuse the two
- Why the median actual retirement age is 62 while workers expect 65, and what that gap costs
- How pre-tax account balances create a growing RMD obligation that stacks on top of pension income
- IRMAA — how Medicare premiums can jump significantly based on income, and why pension households hit those thresholds faster than they expect
- The planning window between pension eligibility and RMD age and how to use it intentionally
This episode is for informational and educational purposes only and does not constitute personalized investment, tax, legal, or insurance advice. Viewing this content does not create an advisory relationship. The strategies and examples discussed are hypothetical and for illustrative purposes only. Always consult a qualified professional regarding your specific situation.Farer Financial LLC is a Registered Investment Adviser registered with the Washington State Department of Financial Institutions.