retirement that is. Greetings from North Georgia. I noticed this site recently and decided to jump in. I have a couple of questions about my retirement possibilities.
salary 100k; wife 60k (she will work at least 5 years after I retire)
401k: $500k wife 80k in sep ira
80k in money market; $50k misc stocks
Our healthcare will be paid by company for the duration if I work until 61.
No debt
SS will be about $2500 at 66
Expenses are $4000k/mth.
We have home renovations of around 40k on the horizon.
My question is about my pension: I am eligible to receive a lifetime pension of 60k/yr. at 62. My wife gets 50% for life after I pass. I also have the option of taking a lump sum instead of a pension. Currently it is valued at $767,000. It is tied to the bond market and may go up or down by the time I retire.
What is the best option and why.
Members of my family typically live into their mid 80's to 90's so the opportunity for a lifetime pension seems hard to pass up.
Also, should I consider going out at 61? (2019)
EDIT: no legacy invloved
salary 100k; wife 60k (she will work at least 5 years after I retire)
401k: $500k wife 80k in sep ira
80k in money market; $50k misc stocks
Our healthcare will be paid by company for the duration if I work until 61.
No debt
SS will be about $2500 at 66
Expenses are $4000k/mth.
We have home renovations of around 40k on the horizon.
My question is about my pension: I am eligible to receive a lifetime pension of 60k/yr. at 62. My wife gets 50% for life after I pass. I also have the option of taking a lump sum instead of a pension. Currently it is valued at $767,000. It is tied to the bond market and may go up or down by the time I retire.
What is the best option and why.
Members of my family typically live into their mid 80's to 90's so the opportunity for a lifetime pension seems hard to pass up.
Also, should I consider going out at 61? (2019)
EDIT: no legacy invloved
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