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Reply to "Lump sum vs monthly benefit and life expectancy "
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[quote=Anonymous][quote=Anonymous]I turned down my lump sum because the payout was too little. I wanted the steady income.[/quote] This. It's actually the case for most people. I work for an international organization and I am retiring in 5 years. My organization gives me either lump sum + reduced yearly benefit or yearly benefit. So what do you guys think? I have these 2 options. Option 1: $63k/year for life Option2: $423k lump sum + $29k/year for life (i can't recall the exact numbers but that's the ballpark) I also have a.Roth IRA but I am not eligible for US social security. I have an additional rental income of $1500/month after all expenses (paid off property) I am tempted to take option 2, but I need to look further into the tax implications of the lump sum (option 2). I don't plan on having an extravagant lifestyle during retirement. And I did all my bucket list over the years anyways. [/quote]
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