clarksvilleal
Confused about dryer sheets
- Joined
- Nov 28, 2007
- Messages
- 5
Hi - I have just taken the plunge and retired at 60. I am currently wrestling with whether to take my (traditional defined benefit) pension early, or live off of my (regular taxable) IRA until I am 65. If I take the pension now, I lose about 27% of the full retirement age pension. But I think if I can keep more of my IRA money invested by taking the pension early, and get 8% or more return on the IRAs (which I expect to based on my experience for a number of years), I may be better off taking the pension early. How do I decide which is better? I have enough in the IRA to live on, but would prefer to leave as much there as possible for now, for various reasons.
One factor to consider is that while my crystal ball isn't telling me how long I have to live, both my parents had long-lived families, with several aunts/uncles on each side living into their 90's, and a couple to 99. (Dad died of lung cancer early - heavy smoker; Mom lived to be 87 even though she had a serious heart problem from a childhood strep infection.)
I'd be most grateful for any insights. Thanks much,
One factor to consider is that while my crystal ball isn't telling me how long I have to live, both my parents had long-lived families, with several aunts/uncles on each side living into their 90's, and a couple to 99. (Dad died of lung cancer early - heavy smoker; Mom lived to be 87 even though she had a serious heart problem from a childhood strep infection.)
I'd be most grateful for any insights. Thanks much,
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