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Reply to "Help me understand my pension numbers"
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[quote=Anonymous]Stay at the job. Forget about the 401k. It's not a good account. Time for you to start investing on your own using Roth IRA and a regular investment account. I invested $200k on my own and retired 5 years later. Had I used a 401k for that money, I'd still be working. I'm going to leave the pension thing alone as I still don't understand the numbers for different ages. I also don't know what happens to it if you pass away early. I don't believe OP is going to spend the $200k. That money could be $800k by 62 nearly tax free if invested well. Op, keep the job, learn about personal finance, stay healthy, pass down the knowledge to your child, and make sure they start investing early. You also didn't say the age of the child and if you file as HH. Long story short, learning to invest and getting your child started early has better returns than anything I can think of. [/quote]
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