I am bailing out to draw PERA but taking a new job too

[Rule of 90 dude]

New poster person here. Wondering about this situation. I am rule of 90 - pre 62 yrs. old and have an opportunity to take a new job with benefits, full time but a bit less pay and much less stress. Will stay in same field and be more of an advisory and research role. Can draw on my retirement from current job and someone said I can invest part of that at my new job in some sort of tax shelter, no details yet as I have not met with HR at new job opportunity place but does anyone have any insight on this?

 

[ut2sua]

Not sure I understand your question, but you typically may be able to start withdraw $ from your current (or previous) company 401K if you have hit (or pass 55 years old) while working there. If qualified, you don't have to pay withdrawal penalty. I have not done this myself, so it is best to check with your previous 401K plan. Once the $ is withdraw, you will need to pay taxes on that (unless the contribution $ was after tax). I don't understand the last part of your question. Hope this helps.

 

[davebarnes]

If you delay taking your PERA benefits, does the future pension payment increase?

You really need to find a fee-only financial advisor and pay a few hundred dollars for advice.
Learn about 401ks. Learn about traditional IRAs. Learn about Roth IRAs. The private sector is quite different from the Colorado government sector.

The financial aspects of retirement in USA are incredibly complicated. I am writing this as someone with 2 engineering degrees and a MBA.