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re: Pension Lump sum question
Posted on 10/19/23 at 9:07 am to Klondikekajun
Posted on 10/19/23 at 9:07 am to Klondikekajun
I’ll add one other detail.
The company I left is a major name, but on the downslide IMHO.
Every major business bigwig retiring /leaving and being replaced with people from the land of Hindu. Stock should be strong, but sliding while other major defense-type companies stock rising strong.
Potential for pension to not be there in the future is a legit concern.
Kinda falls back to the old saying “A little of something is better than a whole lot of nothing””
The company I left is a major name, but on the downslide IMHO.
Every major business bigwig retiring /leaving and being replaced with people from the land of Hindu. Stock should be strong, but sliding while other major defense-type companies stock rising strong.
Potential for pension to not be there in the future is a legit concern.
Kinda falls back to the old saying “A little of something is better than a whole lot of nothing””
2
Posted on 10/19/23 at 9:25 am to AUTimbo
His pension is different.
Cash value pensions are basically held in treasuries.
I don't know the rules about secured debt (can a cash value pension be security against debt)?
But it is virtually the same as a 401k without any market upside/risk. Once vested, it is his cash.
Cash value pensions are basically held in treasuries.
I don't know the rules about secured debt (can a cash value pension be security against debt)?
But it is virtually the same as a 401k without any market upside/risk. Once vested, it is his cash.
Posted on 10/19/23 at 11:40 am to AUTimbo
There's times it makes a lot of sense to do this but this doens't seem like one of those. As said with your mortgage at 3.25% you can fairly easily get 5% guaranteed returns right now. You'd be better off applying 100% of your pension to your mortgage for a long time.
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