A pension has been defined as a regular payment made during a person’s retirement from an investment fund to which that person or their employer has contributed.  Back in the good old days when most people had a job, and were optimistic about their future, it was common for many companies to offer a pension plan.  A pension plan gave someone hope for the future, and security that unfortunately few people realize today.  There are many people who are enjoying a comfortable retirement because of their pension.  Their pension would be in addition to a check from social security.  After working for the majority of their life, it is a fitting reward to receive a check to ensure comfort and security. 
 
Then there are those who do not have the benefit of a pension to enjoy in the retirement years.  They either worked for someone who did not offer this benefit or were self-employed and did not have this sort of plan set up.  When we are young, retirement always seems to be in the far distant future, and a pension may not be on the top of the list of things needed to secure the ideal job.  Many people have had to tap into their retirement savings long before retirement age, just to survive when the economy turned turbulent, and many jobs were lost.  Some of the younger crowd today may ask “what is a pension?”  Will a pension one day be a thing of the past?  A pension will probably always exist, but more than ever it is important to properly plan for the future.  The future will arrive, but will you be ready to greet it with open arms, and be ready, willing, and able to handle all that it entails at that time?
 
Many people are unemployed, and a pension may be the last thing on their mind.  What is a pension worth without a job?  Without a job, it is hard to get excited about a pension.  When one has a job, then they can take their security concerns up a few notches and consider a pension, and maybe other retirement options.   Not many jobs offer a pension plan.  If you work for the government or a job with a union, you are more likely to be offered a pension plan.  If you are a Realtor, or work at Angelo’s Fruit Stand, then you probably won’t have a pension plan.  What is a pension worth in today’s economy?  It is worth plenty.  It is worth piece of mind, security, being able to live comfortably, eat well, and do some traveling. 
 
What is a pension worth without a job?   For those not fortunate enough to have a job, their pension is called unemployment payments.  This is a temporary fix, but it does not help the long term goal of having a steady, secure income in retirement.  Even if a place of employment does not offer a pension plan, each person owes it to themselves to set up a retirement plan.  It could be holding onto real estate for the long term or consistently putting money into a savings account or a money market, for example.  The future is on its way?  Will you be ready?