EP 27 – How to Get Guaranteed Retirement Income (and Retire Early with Confidence)

In this episode of the Washington Retirement Planning Podcast, Ethan breaks down 4 powerful ways to secure guaranteed retirement income for life, including state pensions, Social Security, and annuities.

Then, the conversation shifts to the most important factors to consider when deciding between retiring early or waiting for full retirement benefits. From the financial math behind pension penalties to real-life healthcare costs and emotional readiness, this episode is packed with insights for public employees planning their next chapter.

Whether you’re a few years out from retirement or just getting started, this episode will help you make informed decisions with confidence.

00:00 – Intro & Episode Overview

01:15 – 4 Ways to Get Guaranteed Income in Retirement

02:18 – Option 1: Social Security

04:21 – Option 2: Defined Benefit Plans (State Pensions)

05:17 – Option 3: Immediate Annuities

05:50 – Option 4: Income Rider Annuities

07:44 – Should You Retire Early or Wait for Full Pension Benefits?

08:10 – Break-even Analysis for Early vs. Full Retirement

10:41 – What About Healthcare After You Retire?

13:06 – Social Security Timing & Early Retirement

13:52 – Understanding Your Income Sources

14:43 – Budgeting & Lifestyle Expectations

17:32 – Longevity Risk & Health Considerations

19:16 – Emotional Side of Retirement

20:30 – Final Thoughts & Retirement Planning Support

Links:

  1. Free Washington Retirement Planning Community⁠⁠

  2. ⁠Plan 3 Investment Advice⁠

  3. ⁠Schedule Meeting⁠

  4. More free resources at ⁠WATRSPERS.com⁠

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