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Reply to "What's so great about a pension?"
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[quote=Anonymous][quote=Anonymous]Not exactly the question, but I'll add a cautionary tale: My father retired in 2007 after something like 40 years at the same company. He had the option of taking the defined benefit pension (guaranteed income for life) or cashing it out and investing himself. He is a smart finance guy and cashed it out, thinking he could make more money on investments and keep the income. Then the market crashed during the housing crisis. They are still doing OK, but he often says he wishes he had kept the pension.[/quote] But stocks are way way up from 2007?[/quote]
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