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Follow on Google News | Take the Money and RUN?Retiree's debate this question everyday. Traditional pensions allow workers to take a lump sum distribution but is that really the best plan? Angie Marek from Smart Money states, "Taking a lump sum can also create tax complications..."
By: Jody Hill As Jeff Carbone, a financial adviser in Cornelius, N.C. states...To the millions of workers scraping by with a crash-depleted 401(k), having a (lump sum) pension can seem like the next best thing to a lottery ticket...often on top of Social Security...many actual pension holders are quietly becoming casualties of the tough economy.... “The world is changing.” There are several options out there for a person to grow their retirement funds safely. Creating that security we all are seeking. How much do you want to receive every month to live comfortably, not dependent on anyone else or the government? Think about it, does it really take age to retire? NO, it takes money. If you had your plan in place and you choose to retire at age 40 then go for it and have a blast! Is that possible? Yes it is if you know what you are doing. Is it time you figure out if that works for you? Do you want $5,000 or $10,000 a month coming in during retirement? how many years do you want that income to be accessible for you? For example, the statistics show you would need $5,210,607 in assets that pay you, if you decided to receive $5,000 for 40 years based on Y2005 dollars and using a 3.49% inflation per year. How close are you? Can you feel comfortable knowing you have your estate in order and not feel the effects of those huge tax complications? As Albert Camus stated, "Life is the sum of all your choices." Join the movement and get educated, learn what to do and how to safely...take the money and run! You deserve it and your family deserves it. www.MoneyMama.biz. # # # MoneyMama.biz guides and directs others to live life in their timeframe on their terms so they can be more and do more for those they love the most. End
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