mountainsoft
Thinks s/he gets paid by the post
My wife's pension has an option that would allow us to purchase additional service credits at the time she retires. For example, we could pay about $70,000 to increase our pension payments about $325 per month. Obviously, we don't have 70K sitting around, so this would have to come from our IRA.
So, I'm curious if it is a wise or foolish decision to take money from the IRA to increase our monthly pension payments?
The pension is a guaranteed amount for life (with COLA), whereas the IRA is subject to market ups and downs and could run out if we withdraw too much too fast.
Thoughts?
So, I'm curious if it is a wise or foolish decision to take money from the IRA to increase our monthly pension payments?
The pension is a guaranteed amount for life (with COLA), whereas the IRA is subject to market ups and downs and could run out if we withdraw too much too fast.
Thoughts?