What is the history of pensions and retirement income in the United Stated?

Jump to Last Post 1-2 of 2 discussions (4 posts)
  1. Ari Lamstein profile image80
    Ari Lamsteinposted 6 years ago

    What is the history of pensions and retirement income in the United Stated?

    The era of defined-benefit pensions in the United States is coming to an end, and most people save and invest for their own retirement with defined-contribution systems such as 401(k)s and IRAs.  Many employees lament the passing of defined-benefit system since they guarantee lifetime income; however, they seem to just be too expensive to run and maintain.  I'm wondering: how did people fund their retirement before Social Security and Pensions.  In particular, I'm thinking that many people do not "voluntarily" retire: they simply become unable to continue working.

    https://usercontent1.hubstatic.com/6762788_f260.jpg

    replyreport
  2. LandmarkWealth profile image78
    LandmarkWealthposted 6 years ago

    While it is true that Defined Benefits are being phased out by employers over time, that does not stop someone from self funding their pension.  You can simply self-annuitize all or a portion of your Defined Contribution plan at retirement.  This is actually a safer form of payment and still allows you greater control during the accumulation years. 

    A pension fund simply makes investments on your behalf while pooling you with others.  Somtimes those invesment decisions the pension fund makes are poor.  Sometimes the overall demographics of the particpants is very different than you leading to a poor investment strategy.  Sometimes the pension funds make actuarial assumptions that are unrealistic.  In the long run your actually better off with the 401k and employer match.  Once you retire, you can then determine if their is a need for a level income, and then possibly annuitize yourself.  The payments will be the same with better options for beneficiaries.

    Feel free to read the Hub I wrote on this exact topic.

    http://landmarkwealth.hubpages.com/hub/ … on-options

    replyreport
    1. Ari Lamstein profile image80
      Ari Lamsteinposted 6 years agoin reply to this

      Great answer!

      replyreport
    2. LandmarkWealth profile image78
      LandmarkWealthposted 6 years agoin reply to this

      Thanks, I just happen to have quite a bit of experience in this area.

      replyreport
jump to first post
 
working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

 Necessary
 Features
 Marketing
 Statistics

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)