https://belltelretirees.org/wp-content/uploads/2018/10/Whitepaper-Lump-Sum-or-Pension-Jack-Cohen.pdf
7 replies (most recent on top)
I’ve read in unrelated articles that upwards of 40% of people who take a lump sum retirement end up in financial trouble within 5 years.
That includes those who use investment firms, and those who self manage.
40% seems high, but even 20% is high.
One reason is an unwillingness, or inability, to change lifestyle to match a reduced retirement income.
Rarely is it caused by poor investment decisions, almost always the cause is over spending.
Everyone thinks it won’t happen to them, no one plans to go broke.
So. Tread carefully friends, you didn’t work all this time to blow it in an instant
@1llo: I agree . But I think the mortality rate for the pension is around 74 . And I know a little about investing , but that could be very risky for some
@@10Ot9W1r-1psd only if you outlive the mortality tables and/or don't understand how to properly invest.
@1edm ; if you take the lump sum , then you are basically self managing your fund . I don’t know what I will do when the time comes , but they say % wise people lose more money with the lump .
i'll make it easy for everyone. take the lump sum, and never look back. wouldn't suggest self management for most.
Worked for me
Well if the link worked, that would be swell. Sorry. OP