Sure it is. When I was 55 years old, I received a discounted $500,000 lump sum payment option from my employer (Altria) 5 years ago instead of my full pension at age 65. The pension was reduced by 6% for each year before age 65. My options were: 1) get the discounted $500k an pay taxes, 2) roll over to an IRA the discounted $500k amount, 3) receive a third party annuity on the discount pension, 4) do nothing and wait to turn 65 to collect the full pension………. I did the math and chose option 4.
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Sure it is. When I was 55 years old, I received a discounted $500,000 lump sum payment option from my employer (Altria) 5 years ago instead of my full pension at age 65. The pension was reduced by 6% for each year before age 65. My options were: 1) get the discounted $500k an pay taxes, 2) roll over to an IRA the discounted $500k amount, 3) receive a third party annuity on the discount pension, 4) do nothing and wait to turn 65 to collect the full pension………. I did the math and chose option 4.
Post: A Bridge to My 70s
Link to comment from August 30, 2022