A pension is a guaranteed income for life. What is your $11,000 currently doing? What is the range of values it could take on if you left it where it was?[A defined benefit (this is what Social Security is currently) pension is a guarantee for life, providing the employer stays in business and has adequately funded the plan.][A defined contribution (this what President Bush wants to change part of Social Security to) is NOT a guarantee for life or for any period of time. The amount of money that is accumulated will last for a specific time period...solely dependent upon how it is managed.]LIBCWilliam D. Brownlie, CLU, ChFC, CIP, LIAThis email advice is designed to provide accurate information in regard to the subject matter covered. It is performed with the understanding that William D. Brownlie is not engaged in rendering legal, accounting or other professional service including actively selling life, disability, long term health care insurance, and investment advice. If legal advice or other expert assistance is required, the services of a competent professional person should be sought.
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