Hubby was Wireless Rifd in December. We have gotten an offer from Verizon to buy out the pension. It seems fair. Hubby ran some numbers in the spreadsheet. It seems like a good idea to take the buyout. Anybody else have any pros and cons?
6 replies (most recent on top)
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Get a Financial Advisor - your own bank may provide this service free.
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You can take part of pension lump sum for personal use (yes it will be taxed but everything is) and roll the rest over to a traditional IRA (not taxed).
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You are in charge with an IRA - pay yourself annuities (if that is what FA advises)
do it
Thanks. Well maybe not the first poster. Try drinking a glass of water with your other beverage so you don't get a hangover. Anyhow we have already been through this with another pension buyout as far as financial planning goes. It just seemed like such a fair offer that we were stunned and more than a little suspicious. I guess we were looking to see what others thought. It seemed like the monthly numbers improved since the projections at the time of the Rif.
Honest answer? If the numbers make sense and you feel you will be a wise steward of the money now, than take the deal.
You are seeking financial advise from this place? Really?!? Go speak to a reputable CFP.
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