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Automotive Employees

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We Know the Questions You Are Asking

Should I take the pension or lump sum?
When should I retire—and will I regret it?
How do I make my 401(k) last if I leave work early?
What do I do about health insurance before Medicare?
Can I afford to retire now, or should I wait?
What happens if my spouse is still working?
What’s the smartest way to take distributions—and avoid penalties or taxes?

What Makes Automotive Planning So Different?

Automotive financial planning isn’t just retirement planning — it’s about navigating pensions, buyouts, contracts, healthcare shifts, and industry volatility in a way most other industries never face.

Pensions and Buyouts

Many auto workers still have defined benefit pensions (rare in other industries).
Lump-sum pension offers vs. lifetime annuity options can have long-term tax and risk implications.
Frequent buyout packages (sometimes with short decision windows) make timing critical.

401(k) + Profit-Sharing Nuances

Auto companies often offer profit-sharing contributions that vary annually with company performance.
Coordinating 401(k) choices with profit-sharing, bonus structures, and union-negotiated contributions is a planning challenge.

Healthcare + Early Retirement Coverage

Shifting retiree healthcare coverage and coordination with Medicare/Medigap are recurring complexities.
Early retirement offers often hinge on whether healthcare is included — this is a massive financial variable.

Stock & Deferred Compensation (Executives & Engineers)

Many salaried or management employees at Big Three and suppliers receive stock options, RSUs, or deferred comp.
These require advanced tax planning and coordination with retirement income strategies.

Volatility of the Auto Industry

Plant closures, relocations, and layoffs are more common than in other industries.
Economic downturns (2008 recession, COVID shutdowns, supply chain shortages, EV transition) disproportionately impact auto employees.
Planning has to factor in the “boom-and-bust” cycles of automotive.

Spousal Coordination

Common that one spouse has rich benefits (pension/healthcare) and the other has different coverage.
Coordinating benefits is critical to avoid duplication or missing out on better options.

Legacy & Generational Wealth

Automotive families often have multi-generational ties to Ford, GM, Stellantis, or suppliers.
Planning isn’t just about the employee — it’s about passing on benefits, pensions, or stock options to children.

What You Need to Know Before You Hit the Brakes (or the Gas)