Retirement Planning: pensions
My husband and I have our own retirement plans from the same company. I plan on retiring at the end of this year and am confused as to what I should do about the payment. Is it best to take the single life annuity since we both have good retirement plans, or do the 50% beneficiary?
No simple answer here (is there ever when it comes to retirement decisions)?
It all depends...
-- pension amounts based on service/income
(equal pensions or one is lots more)
-- general financial status
Most financial planners will do free consultations... mostly about investments (hoping to invest for you). You can take their advice or not. Bottom line: its your decision and nobody else can make that for you.
If you care to, write to me using the "contact me"
at the bottom left so I can write back privately. If I knew a bit more, I can give you some scenarios to consider so you simply think about whats right for the two of you!
Best Wishes! Wendy