On Nov 14, 11:52*am, gamefa...[at]luckymail.com wrote:
- quote -

If all your retirement money is in a 401k, Joe's advice works fine.

If, on the other hand, the employer has matching funds, which seems to
be implied by the different annuities, it may be easier to take the
higher annuity to reduce accounting problems. Can you delay the
annuity to age 65 to get a larger amount?

--
Ron

gamefan72[at]luckymail.com wrote:
- quote -

Yes - roll over to the IRA. An IRA is not a Mutual Fund, nor any
specific investment. It is a 'box' labeled 'retirement account'
(actually "individual Retirement Arrangement" for those who wish to
catch me on a minor point) and can contain funds as you wish to shy away
from, or CDs, T-Bills, T-Bonds, etc. For now, FDIC insured brokered CDs
might make sense for you.

Joe

Hello. I hope someone can give me some sound financial advice. About a
year ago, I resigned from a "state" job, which I had held for
approximately 7 years. After a lot of procrastinating, I'm finally
getting ready to rollover the retirement money into my new employer's
401K plan. I am going to simplify this, but basically my old employer
is giving me 2 choices: Starting now, I can leave all the money in
there ($13.5K) and receive a monthly annuity for life of $110.00. Or,
I can withdrawal (rollover) the entire amount ($13.5K) and starting
now receive a $60 monthly annuity for life. Keep in mind that I'm only
in my mid 30s, so I have a good 30 or so years of work left. Something
tells me I should go for the total withdrawal, rather than the higher
annuity payment, but I would like for somebody to confirm (and maybe
explain why) this would be a wiser choice. Of course, with the crappy
economy right now, I have to admit that I'm scared to death that
rolling the $13.5K over into the mutual funds that make up my current
retirement plan, which has made me NEGATIVE 30% this year (as is the
story with a lot of other people right now, I'm sure)! Any advise
would be greatly appreciated. Thank you!