lauradrops
Recycles dryer sheets
My husband took the buyout in 2010 at the age of 48. We rolled it into an IRA and let it grow. We were forced to take a 72T ($588 per month) to qualify for a small mortgage which we no longer have, but other than that didn't touch it.
It has more than doubled in the market and can produce his pension amount withdrawing only 2% per year. He is still only 58, so not planning to touch it until probably about 60. I imagine by then it will grow some more.
Without a doubt that was the better choice for us. And if the both of us should pass, the 3 kids inherit a nice sum, but if we took the pension that would die with us.
I think the pension is a better choice for people who can't or don't want to manage their money. We know a coworker who blew through his buy out with lavish purchases who would have been better served with the pension.
It has more than doubled in the market and can produce his pension amount withdrawing only 2% per year. He is still only 58, so not planning to touch it until probably about 60. I imagine by then it will grow some more.
Without a doubt that was the better choice for us. And if the both of us should pass, the 3 kids inherit a nice sum, but if we took the pension that would die with us.
I think the pension is a better choice for people who can't or don't want to manage their money. We know a coworker who blew through his buy out with lavish purchases who would have been better served with the pension.
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