Planning for early retirement? In this insightful video, we explore the crucial decision of whether to opt for a lump sum or monthly payments. Discover the pros and cons of each approach, gain expert advice on maximizing your financial outcomes, and make an informed choice that aligns with your long-term goals. Join us as we delve into the complexities of early retirement planning and provide valuable insights to help you make the best financial decision for your future.
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Thanks. I took 6:30 the lump and invested.
at the 2 min mark I was like lump sum. Age and crap return on pension was the factors.
The man. The myth. The legend!
Using a reasonable payout rate of 6% you will need approx 165k at age 65 to purchase an annuity that will pay you $9800 annually.
You will have to invest 25k today over a 28 year period @7% to appreciate to 165k .
An apples to apples Net Present Value comparison (using conservative expectations) is $31.123 pension
VS
$25.0000 annuity payments at 65.
Did you analyze the worthiness of the pension company? Some are in trouble. If you were to keep the pension, how often would you monitor it?
Thanks Eric good info