https://www.cnbc.com/2020/09/10/pension-tension-take-the-lump-sum-or-trust-lifetime-payments.html?__source=newsletter%7Ceveningbrief
Pension tension: Should you take the lump sum or trust lifetime payments?
12 replies (most recent on top)
Bulls make money,bears make money. Pigs get slaughtered , take the lump sum.
PBGC would cover the full $3000 a month
PBGC only pays half if company goes under.
@igdz, if economists Pete Schiff, Irv Fisher, Ravi Batra, Raj Mehra, Gene Fama, Paul Krugman and Paul Ehrlich could somehow combine their DNA and produce a baby, it too might be named Skater, Nostradumass.
would have to be out of your mind to take the lump sum. GDP shrank at an unprecedented annualized 30%. We're in the 2nd great depression. The market is going to crash and you will not live long enough to recover financially from it. With the monthly payments Verizon has an obligation to pay you. If Verizon becomes insolvent then the PBGC will pay you.
Don't let greed make you leap for the lump sum, you'll be sorry if you do.
Retain a CERTIFIED Financial Planner / Retirement planner ...It is worth the Fees, .chk FINRA for their qualifications. I took the Pension Lump Sum and started a traditional IRA with it . Then I rolled over my Fidelity 401K (never took withdrawal in 30 years ) into a IRA and Never looked back. Investments have been solid and my withdrawals are as if I am paying myself . My Financial Advisor and I meet quarterly or as needed .
@5nhb, even before age and service equaling 90, at least for me.
Forget the financial investor. Stock as much money as you can into your 401k and then stock more.
It’s simple. The more money you have the more secure you will be in retirement. Then you won’t need to do these tricks and financial schemes to try to make it while paying a commission to someone to manage your investments.
I believe there is a formula you must be cautious of. Once age and service equal 90, the lump sum begins to go the other way in value.. It is base on actuary formula... So be careful and be aware.
Me have two VZ pensions coming to us. Calling a Good financial planner was the best thing we could have done for our Pensions.
We are taking the buyouts
We are waiting for whatever comes at the end of this year . We will both be off the payroll by the end of 2021 at the latest.
Get a financial planner long before you get to the this point of retirement. A good planner can help with 401k investing and by the time you are ready to retire you will be much more comfortable with the ebb and flow of your investments. I'm with mine for 25 years and he has not only made me a good return but more important has made more me confident in my situation. Retirement should be a great time not full of stress.
Get a good financial adviser and take the Lump Sum