For pension holders, generic retirement advice doesn't apply; in fact, following that advice could actually cost you and your family hundreds of thousands of dollars.

In this video, Josh Palmer, Director of Financial Planning with The Noble Group, breaks down "The Pension Trap," the hidden risks pension holders face that most financial advice never addresses. He explains why your pension election is much more dangerous than it sounds and shares how one couple discovered their pension was actually worth more than $1.3 million, even though it never showed up as an account balance on a statement. You'll also learn why pension holders often build their portfolios way too conservatively without realizing it, and how to protect a surviving spouse from losing their income overnight.

If you or someone you love is relying on a pension in retirement, this video could save you from a mistake you can't undo.