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Old 03-18-2021, 12:39 PM   #81
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The "non-financial reasons" in the thread title is interesting, since practically all the replies deal with financial reasons.

In my case, I had no pension waiting for me. What I had was a good sized accumulation in my 403(b) plan with TIAA from 40 years of employment.
Close to half of that accumulation was from employer contributions.

So I made my own pension by annuitizing a hefty portion of that accumulation at start of retirement, age 63. The majority of my pension/annuity is variable, based on commercial real estate or the broad stock market. So my income has tended to increase month to month.

If there's a partial "non financial" thing about my choice, made eight years ago, it's that my retirement income after starting age 70 SS a year ago is way more than adequate.
So rather than taking $$$ from my investments for spending, I'm putting a few thousand dollars per month of excess income back into my investments, my taxable account.

So there's a certain comfort in that...
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Old 03-18-2021, 01:13 PM   #82
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Quote:
Originally Posted by ChicagoGal View Post
Yes, today was my decision day. And my decision was to defer my decision

I am really still torn between the options. Every one of the points people brought up here resonate in some measure or another. I did confirm during my conversation with the retirement specialist that I can defer a decision up until my 65th birthday, so have plenty of time. Realistically, it will only continue to grow until my 62nd birthday, but that's still a few years away. I have funding options in the interim, so I realized there isn't a need to push me into a decision before I'm ready.

I really appreciate all of the input here. Only 8 more days of w*rk until retirement is a reality! I'm sure I'll have many more questions to tap into the collective wisdom here as this process keeps moving forward.
Congrats!

I FIREd from MegaCorp about 9 years ago and then "rehired" into a different career. I decided to leave my MegaCorp Cash Balance Plan sit there. Why? The annuity payout is more than I can buy through a private annuity, so there's that. Also, the CBP has a feature that pays interest at prime +1% until I decide...so there's that. I would choose a 50/50 J/S annuity so DW would have some coming in should I pass first.

At any point between now and age 65 (I'm 59), I can either take the lump sum, start the annuity (non-COLA'd), or defer. I just let it sit there for now. I'll re-evaluate as interest rates rise to see if publicly-available annuities will pay better...but I doubt they ever will. Along with SS, this will provide a foundation of "forever" money, even if it's not COLA'd.
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