Been reading lots o websites for the past year (better late than never) and am still confused as to the best course of action for when we pull the plug. A little advice or pointers in the correct direction would be appreciated.
Me (57): TIAA Traditional Annuity 214k + 168k in DWS funds
Mrsin (59): 401k of 375k + 70k/year DB pension
No debts except the mortgage which we are not upside down on.
Our ultimate goal is to sell the house and downsize to the southeast.
I am considering taking the TIAA annuity as soon as I retire with the 100% joint survivor rider. I am also considering rolling the DWS $ into the annuity. Mrsin's 401k would be held for the future. Does this make sense?
We are not investment savvy. I'm not even sure I'm asking the right questions, but can someone point out the downsides of this plan? Is rolling the DWS stuff into the TIAA annuity a good idea or a bad idea? I am risk averse, Mrsin is less conservative.
Thanks in advance.