Hello, hoping I can learn from others experiences here on this forum. I am not seeking early retirement yet, however I am 50 and am eligible for my lump sum or annuity pension options as of this month ( Yeah thought I would never make it)
I do wish to continue working until I feel I have enuf $$ to retire officially. My issue now is should I take my lump sum now, and accept a job offer from a competitor but at a 30% pay reduction? Or keep working at my company and risk my lump sum going down as interest rates maybe rise in the future.
The pay reduction is still a great living in my area, but far less than I make now. Also, my main concern is the opportunity cost of not taking the lump sum now and having it grow over 10yrs or so ( I hope it would grow).
Anyone done something similar? Many thanks.
I do wish to continue working until I feel I have enuf $$ to retire officially. My issue now is should I take my lump sum now, and accept a job offer from a competitor but at a 30% pay reduction? Or keep working at my company and risk my lump sum going down as interest rates maybe rise in the future.
The pay reduction is still a great living in my area, but far less than I make now. Also, my main concern is the opportunity cost of not taking the lump sum now and having it grow over 10yrs or so ( I hope it would grow).
Anyone done something similar? Many thanks.