Worked almost 23 years for this company, so major hurt
financially to have to leave before early corporate retirement
Here is more background information:
Age 45, same for DH.
Fidelity 401K, $220K
Current value of pension to roll: $139,000
* *If I left it in the company pension plan, it would grow
* *to $338,000 at age 65.
Taxable savings $52,000
Roth IRA about $11,000
Owe $63,00 on house, current value about $160K
Car is paid
Get about $71,000 severance, but will lose about 25% to taxes.
Own 12 acres valued at $60,000, loan $29,000.
DH 401k equivalent about $53,000
DH pays into Teacher Retirement System, so not sure what
amount of pension will receive in 6 years when retirement
eligible.* DH healthcare will be paid at retirement, and mine 50%.
I plan to use some money from severance and my savings to
pay off the house.
Based on the above financials, I feel I need to find another
I would like the pension money to grow, but, with moderate risk.*
A lot of the 401K is invested in mutual funds with $40,000
in company stock.* Another $55,000 is in cash which I realize I should move to mutual funds to make it start working harder.
I looked at the FundAlarm.* I am glad to see none of my 401K mutual funds are in the 3-alarm list.
Any more suggestions on a home for my pension money?