Hello all,
I am soon to be retired with a question: I have an option to take a lump sum of $383,000 (rolled over into my IRA) or an annual pension of $31,000 no COLA.
I am 50 years old and the pension/annuity will start immediately.
I am on the fence here. On the one hand, the lump sum would be nice to invest in case of a dip in in the market...but then again the monthly guaranteed income is also good.
I should note that our home is paid off, we have no children, and I have a healthy amount in my 401K.
Just curious what the ER consensus is?
I am soon to be retired with a question: I have an option to take a lump sum of $383,000 (rolled over into my IRA) or an annual pension of $31,000 no COLA.
I am 50 years old and the pension/annuity will start immediately.
I am on the fence here. On the one hand, the lump sum would be nice to invest in case of a dip in in the market...but then again the monthly guaranteed income is also good.
I should note that our home is paid off, we have no children, and I have a healthy amount in my 401K.
Just curious what the ER consensus is?