Aloha from Hawaii, I have been following ER for years and are beginning to seriously plan for ER. DW and I are 3 years from retirement date (Age 57). I wanted some opinions on my Hybrid pension options.
The 3 options are:
1) 4500 a month / Beneficiary receives balance of Contributions 150K
2) 3940 a month / Beneficiary receives 3940 a month / if beneficiary dies retiree receives 4450.
3) 3550 a month and refund of contributions 150K
My CFP says Option 2, I say Option 1 (buy 200K life insurance for me)
Our Combined 457b is 600K, Roth 120K, Cash 120K, Annuity 24K a month till 2022 (inherited), Home paid for.
The 3 options are:
1) 4500 a month / Beneficiary receives balance of Contributions 150K
2) 3940 a month / Beneficiary receives 3940 a month / if beneficiary dies retiree receives 4450.
3) 3550 a month and refund of contributions 150K
My CFP says Option 2, I say Option 1 (buy 200K life insurance for me)
Our Combined 457b is 600K, Roth 120K, Cash 120K, Annuity 24K a month till 2022 (inherited), Home paid for.
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