sheldon cornped
Recycles dryer sheets
- Joined
- Mar 26, 2011
- Messages
- 221
I just turned 60 recently, have been employed for 35.5 years with basically the same Megacorp. It has just been announced that the company is cutting 550 salaried positions to improve margins and cut costs. I will be surprised if my job is spared even though it is in a vital area. Nevertheless, I have been playing alot of "what if" to prepare just in case. Severance would be offered which for me would be about $110k taken as cash after all deductions or qualified to roll into an IRA. I'm assuming the entire $110k would be rolled into the IRA pre-tax. The other question on pension is this: Should I take $3950/mo Joint/Survivor for life, or take $525k plus $1340/mo J&S? We do have in the low 7 figures of 401k's, IRA's, cash and taxable. Under these circumstances when might you take SS. DW gets pension starting in 4 yrs of 1800/mo.
Your infinite imparted wisdom much appreciated......
Your infinite imparted wisdom much appreciated......