Retirement Income Plan – Better Than a Pension?

A pension’s security is reassuring, but there are some advantages to creating your own plan for retirement income using income allocation planning instead of relying on your employer to provide a major source of your income during retirement.

A retired couple walk arm in arm on the beach
(Image credit: Getty Images)

After World War II, the middle class of the Silent Generation enjoyed a great economy and often also benefited from the company pension, which promised to guarantee secure income in the after-work years. That security blanket started to unravel in the 1970s as Baby Boomers began to lose pensions as an employer benefit. Instead, they gained the IRA and 401(k), which required them to save on their own (along with an employer-matching contribution, in some cases).

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

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Jerry Golden, Investment Adviser Representative
President, Golden Retirement Advisors Inc.

Jerry Golden is the founder and CEO of Golden Retirement Advisors Inc. He specializes in helping consumers create retirement plans that provide income that cannot be outlived. Find out more at, where consumers can explore all types of income annuity options, anonymously and at no cost.