ProGolferWannabe
Recycles dryer sheets
- Joined
- Jan 14, 2012
- Messages
- 141
Been awhile since I have posted, but have been lurking/reading regularly. Thought you could opine on my pension options. When my wife and I retire, we will both be eligible for a pension.
Our options are as follows:
Me: $3308 per month w. no survivor benefits
Wife: $2981 per month w. no survivor benefits
or
Me $2977 per month w. $1654 per month survivor benefits
Wife $2683 per month w. $1490 per month survivor benefits
I could take my pension at 56, wife at 58 (2 years after me). I thought it would be prudent to take the reduced annuity, but it was suggested that it might make more sense to take the full annuity and purchase life insurance. Any rules of thumbs here, or things I need to consider? As always, thanks.
Our options are as follows:
Me: $3308 per month w. no survivor benefits
Wife: $2981 per month w. no survivor benefits
or
Me $2977 per month w. $1654 per month survivor benefits
Wife $2683 per month w. $1490 per month survivor benefits
I could take my pension at 56, wife at 58 (2 years after me). I thought it would be prudent to take the reduced annuity, but it was suggested that it might make more sense to take the full annuity and purchase life insurance. Any rules of thumbs here, or things I need to consider? As always, thanks.