I highly recommend consulting the folks at bogleheads.org

Laymen, for the most part, but a few professionals participating, and all very knowledgable and willing to give advice. There is a forum for portfolio critique which you might find particularly helpful:

http://www.bogleheads.org/forum/viewtopic.php?f=1&t=6212

How much does she need in income? With interest rates so low, it often doesn't make sense to buy an annuity right now. Just keep the funds in the 401k and IRA and let them grow and take RMDs at 70 1/2 . How much does she need to live on, and how good is she at sticking to a budget? These are probably the first steps you need to take. Also look at long-term care insurance needs.

Great that you are helping her.

Anonymous wrote: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.

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?

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.

Anonymous wrote:My aunt is headed into retirement at 68, and I am learning so much.

Company Pension Annuity Options?

What to do with your 401K?

What to do with an IRA.

I should become a retirement coach

Medicare part A, possible employer retirement options for health care.

I can't believe the company my aunt works for offers her no advice.

Your aunt is lucky to have you advising her. My widowed MIL "inherited" a financial adviser whose favourite hobby is churning. She's too meek to move the money.

If you are 20 something and 30 something...most of the time you are not even thinking about this stuff! I wish I only thought of it all sooner!!!!!!

My aunt is headed into retirement at 68, and I am learning so much.

Company Pension Annuity Options?

What to do with your 401K?

What to do with an IRA.

I should become a retirement coach

Medicare part A, possible employer retirement options for health care.

I can't believe the company my aunt works for offers her no advice.