If you’re a Southern California Edison employee, your retirement benefits may be more powerful- and more complicated- than you realize. Steve breaks down the different levels of 401(k) management, explains how the SCE cash balance pension works, and highlights common mistakes employees make when relying on default investment options. You’ll learn why retirement planning goes far beyond choosing a target date fund and how coordinating your pension, investments, taxes, and retirement income strategy can make a significant difference in your long-term financial future.
Here’s some of what we discuss in this episode:
⚡ Tier Zero: Why doing nothing is the biggest retirement mistake
📈 401(k) Tiers: DIY investing, robo advisors, and full financial planning
🎯 Target Date Funds: The benefits and limitations of default options
🏦 Cash Balance Pension: The overlooked benefit many Edison employees misunderstand
🔄 Coordination Matters: Connecting your pension, 401(k), taxes, and retirement income
🛡️ Common Objections: Time, fees, market recovery, and following coworker advice
0:00 – Intro
1:50 – Tier Zero
2:50 – Tier One
6:29 – Tier Two
8:52 – Tier Three
13:49 – The Cash Balance Pension
17:43 – Common Objections
24:09 – Next Steps & Final Thoughts
Take The Quiz: https://powerhousevsl-q3f63yk6.manus.space/
Get your copy of Power Up Your 401K in our toolkit: https://keap.page/ngt919/toolkit.html
Follow along on YouTube: https://www.youtube.com/channel/UCEE5ZkDedYTsKzkh2UxQ9Sg
Book your 401(k) Onboarding Meeting with Steve: https://calendly.com/steven-powerhouse-advisor/401-k-retirement-meeting-1-hour-clone?month=2024-12
Other ways to get in touch:
Phone: (775) 266-8867
Our website: https://powerhousefinancialadvisors.com/
LinkedIn: https://www.linkedin.com/company/powerhouse-financial-advisors/
Facebook: https://www.facebook.com/PowerhouseFinancialAdvisors
