skipro3
Recycles dryer sheets
I'm soon needing to make a decision on selecting an option for a pension. The two basic options I'm considering are;
1. provides the same monthly allowance continues to be paid to DW for life. ($6,000 month) +COLA
2. provides a larger allowance as long as I'm alive ($6,300 month) +COLA but drops by a third of option 1 I die first. ($4,000 month). +COLA
This pension represents about 75% of the retirement funding, the other 25% won't be affected by my early demise. Also, my numbers show I won't need to even touch this 25% unless something major hits us.)
DW most likely would not keep the home we have now since it is quite large both in size and in land to maintain. (A 3,000+ sq.Ft. log home on several acres, landscaping, animals, etc.) She would most likely downsize considerably and have an additional $400,000 to $500,000 from the sale.
What would you folks here recommend, option 1 or 2?
Thanks!
1. provides the same monthly allowance continues to be paid to DW for life. ($6,000 month) +COLA
2. provides a larger allowance as long as I'm alive ($6,300 month) +COLA but drops by a third of option 1 I die first. ($4,000 month). +COLA
This pension represents about 75% of the retirement funding, the other 25% won't be affected by my early demise. Also, my numbers show I won't need to even touch this 25% unless something major hits us.)
DW most likely would not keep the home we have now since it is quite large both in size and in land to maintain. (A 3,000+ sq.Ft. log home on several acres, landscaping, animals, etc.) She would most likely downsize considerably and have an additional $400,000 to $500,000 from the sale.
What would you folks here recommend, option 1 or 2?
Thanks!
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