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VIDEO: Is Railroad Retirement Worth It? Thumbnail

VIDEO: Is Railroad Retirement Worth It?

Tier 2 Video Retirement Financial Planning


In this video, I'm going to talk about the most searched phrase when it comes to railroad retirement.

Welcome everyone to the Railroad Retirement whiteboard. My name is John McNamara of Highball Advisors. And what I'm going to talk about today is the phrase that is the most search phrase when it comes to railroad retirement. How I know that? Well I have a website, highballadvisors.com and Google provides a bunch of analytics so you can see the traffic that comes to the site and how people get to your site. And they have this one tool called Google search console. And they'll show you the terms that people are typing in in order to get to your site. And behind me is the most search term. Is railroad retirement worth it? Right? So I figured, well, let's stop beating around the bush and I'll just answer this question directly in this video. So I'm going to walk through why I think it's worth it.

And let's see what you think, right? So starting on my right, your left, is the guaranteed retirement income. I always talk about it. I think it's fantastic. The tier two annuity pays out tremendously as it accumulates after five years of vesting. Then also if you get married, there's also a spouse annuity, right? And he or she doesn't even have to contribute into that. That's just the add on, right? An additional bonus. 45% of your tier two is available in a spouse annuity. So that's a great benefit, right? Let's go to the second benefit. Survivor benefits, right? That's kind of just the estate planning, right? The most important thing, taking care of your family, right? So having that survivor annuity, if something unfortunately happens to you before your retirement. So that's another great benefit. Taking care of the family. Very, very important, right? Another lifestyle, early retirement, right?

Seven years earlier than a social security worker, right? You can retire at 60 as full retirement age, tremendous benefit. Maybe some of you might even have a pension. You could early retire at 55 and then at 60 and have that full retirement benefit. So that early retirement possibility, another options, right? So that's a great, great benefit right there. And then finally, the one that I think is great is the opportunity. The opportunity that Railroad Retirement gives you for building significant wealth, right? Because if you have your guaranteed retirement income streams covered, if you have your survivor benefits covered, right, you now have additional resources to go out and build wealth, right? So when you're saving for retirement, right, you can be a little bit more aggressive and try to get a little bit more ... Build that wealth and compound it over time and time versus saving towards retirement, like a social security person, and then having to go out and purchase your retirement income.

So you have a lot of opportunities with Railroad Retirement. So at the end of the day, is Railroad Retirement worth it? Yeah. It really is. Sure is. It's a great benefit. So I hope you found this video useful. Put some comments in on yourself. I know there's obviously other factors, lifestyle, other things that I can't quantify in this video, that's up to each individual. But as always, please subscribe to my YouTube channel., Give this video a thumbs up. Appreciate that. And as always, everyone, please stay safe, stay on track and take care. So long everybody. Bye.


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Disclaimer: This article is provided for general information and illustration purposes only. Nothing contained in the material constitutes tax advice, a recommendation for purchase or sale of any security, or investment advisory services. Highball Advisors encourages you to consult a financial planner, accountant, and/or legal counsel for advice specific to your situation. Reproduction of this material is prohibited without written permission from Highball Advisors, and all rights are reserved.from Highball Advisors, and all rights are reserved.