Note that lump sum payouts of the pension & 401k can & ought to be rolled over to regular IRA for pre-tax and to ROTH IRA for post tax 401k. That way you can invest & regulate the withdraws to suit your tax & need situation. The tax consequences are considerable in cashing out 401k & pension lump sums into outside of sheltered accounts. #rollover #roth #regularIRA #401k
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