Early Retirement & Financial Independence Community - View Single Post

05-31-2004, 06:52 AM

"IMHO, you should not tap the 401k money until
you have to ....... age 70 if you can hold out. "

This is what I had been thinking earlier. I had always assumed that the 401K was untouchable until I got older.

But my employer, when presenting the ER offer, assumed I would buy an immediate lifetime annuity with the 401K money. That got me thinking along those lines. Their calculations showed I could get about $25K/yr in the annuity, so I'm thinking 25K pension plus 25K annuity is $50K/yr and I can probably live on that.

05-31-2004, 06:52 AM	#8
Bill J. Guest Posts: n/a	"IMHO, you should not tap the 401k money until you have to ....... age 70 if you can hold out. " This is what I had been thinking earlier. I had always assumed that the 401K was untouchable until I got older. But my employer, when presenting the ER offer, assumed I would buy an immediate lifetime annuity with the 401K money. That got me thinking along those lines. Their calculations showed I could get about $25K/yr in the annuity, so I'm thinking 25K pension plus 25K annuity is $50K/yr and I can probably live on that.