The Autoworker's Guide to Retirement
5 Crucial Decisions Retirees from Ford, General Motors, and Stellantis Want to Get Right
By Richard Paul, CFP® & Steven Paul, CFP®
The 5 Crucial Decisions You'll Face
Do I take the lifetime pension or the lump sum?
If I take the lump sum, how can I keep it protected from market volatility while still generating consistent income?
What do I do with my 401(k) when I retire?
When do I take my Social Security?
How do I find a trusted advisor to help with all of this?
Preview: Chapter 1 — The Million-Dollar Question
“Before everything else, getting ready is the secret of success.” — Henry Ford
Have you ever heard the phrase “the sixty-four-thousand-dollar question” before? It dates all the way back to the 1940s and was the question asked at the climax of the British radio quiz show Take it or Leave it. This question was later popularized in the United States during the 1950s on the game show The $64,000 Question.
If you were to use this phrase today when talking to your kids or grandkids, they might look at you a bit funny, as they're likely more familiar with the 1999 version of the phrase—“the million-dollar question”—from Who Wants to Be a Millionaire?
We all remember this show: the unique set, the stage lighting, the intense sound effects, and of course, the dramatic, drawn-out pauses Regis Philbin would make after asking, “Is that your final answer?”
As an autoworker, you may be faced with a similar million-dollar decision at retirement. If it's not quite a million dollars, it's still likely a significant sum of money that could impact your family for generations to come. Now, you won't have the award-winning gameshow host or the dramatic lighting as you face this decision, but for some who haven't thought through their plan, it can certainly feel that way.
To take it a step further, when planning out your retirement, you will most likely be faced with not only one million-dollar question, but several...
Continue reading to discover how to approach these critical decisions with confidence.
What's Inside
What You'll Learn
What Readers Are Saying
“Retiring from Chrysler, GM, Ford or another Detroit car company, this is the book for you!”
“A must read for any autoworker retiring with a pension buyout decision.”
“As an employee in the automotive industry, this book is quite insightful and I plan to recommend this book to all of my colleagues as a MUST-READ.”
“A must read for anyone considering taking a lump sum. Has additional information about retirement decisions like long term care insurance and SS.”
Reviews from Amazon.com
About the Authors
Richard Paul
CFP®
Richard has spent over 25 years helping Ford, GM, and Stellantis employees navigate the complexities of retirement. As a Certified Financial Planner and fiduciary advisor, he's guided hundreds of Big Three retirees through pension decisions, 401(k) rollovers, and retirement income planning.
Steven Paul
CFP®
Steven specializes in retirement planning for automotive industry employees, with deep expertise in lump sum pension analysis, Social Security optimization, and tax-efficient withdrawal strategies. He's passionate about helping retirees make confident, informed decisions.
Ready to Make Your Million-Dollar Decision?
Don't leave your retirement to chance. Get the insights and guidance you need to make confident decisions about your pension, 401(k), and Social Security.
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