Hi Folks----

[fire153k]

I'm getting close to 55 and starting to think about life after work. My first decision is coming next month when I can begin taking a pension from a past employer. The question is do I take it at 55 or wait awhile. If taken on April 1st I will get $525/mo but at 65 it will be almost $1200. A simplistic view tells me to take it now and bank it. I don't need the money so I can truly put it away. This would be "pin money" since I already have about $750,000 saved for retirement.

Any thoughts----

 

[dex]

Do you need it now? Another way of thinking about it is that you money will double in 10 years. Also, don't forget to add Uncle Sam in the equation.

 

[bbbamI]

...or will the co be here in 10 years.

 

[crazy connie]

A simple question to my way of thinking is, what if the proverbial garbage truck runs you over at age 64 and 364 days? If the benefit is not there for your estate... then why wait? Check the plan documents first.

 

[militaryman]

Also ... Is the pension Cola'd?

If so, what will the $525 be at 65 with 10yrs of cola's?