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Reply to "My family is teaching me everything about retirement"
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[quote=Anonymous][quote=Anonymous]Companies often won't offer advice specifically because they become liable for the results. Your aunt is indeed lucky to have you. But don't be too confident -- seek help if you need it. This is complicated stuff and some of the choices your aunt makes now are irreversible.[/quote] Right! So right now...the 401K...I told her she should take the money and buy something so she can lock in a rate that she can live off of for the rest of her life with her pension (s) & social security. She has about $350 in a 401K and $250 in another IRA. But she only gets one chance to turn the 401K into an annuity option. So I thought she could take some of it for a down payment and then take the rest in an annuity. All her pensions and social security she will be living off of $70K a year. Advice?[/quote]
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