QUESTION:

best type of pension payments

I need to decide best way to accept my pension - straight life annuity ($927 monthly), guaranteed payments of 5 or 10 years which would give needed help to my adult children if I pass but would decrease my benefits by $20 or $82 dollars a month, or a cash payout equivalent to 9 1/2 years but decreasing my benefits by $67 monthly. Also there is the social security wrap-around option giving me approximately $2500 montly for a year then decreasing my pension by about $180 month. I'll have about the average amount of social security but won't start collecting for a year. Also have an average 401K and IRA.
asked by Cleo, 5/14/2010
Categories: Transitioning to Retirement
ANSWERS:
Answered by: Jason B, 05/17/10
Overall Rating: Be the first to rate it.

Hi Cleo,

Given your situation, it sounds like you might be able to make use of a Professional Financial Adviser, to help you sort out the possibilities concerning your pension and IRAs. You can find out more at the following link: https://www.newretirement.com/Services/Professional_Financial_Advisors.aspx

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