1

Small retirement income

Submitted by ro on January 14, 2008 - 14:43.

Years ago, I worked for a company for just over five years and because my retirement benefit was over 10k (by their rules), I can't take a lump sum.
I got this great idea but am not sure how great it is. If I were to start taking my withdrawals, I would get $183 a month. If I wait another year, I would get $193 a month.
So, what if I were to start taking the $183 a month and put it straight into an IRA or something? Is that better than just letting the money sit there?
Can you talk about strategies like that?

Reply

Please keep the comments civil and on-topic. Abusive or inappropriate comments will be removed without warning. By posting here you agree to our terms of use.

The content of this field is kept private and will not be shown publicly.
If you leave a link (include the http:// part), your name will be linked to your homepage.

You may use some HTML for formatting: <strong>bold text</strong>, <em>italics</em>, and <a href="">for links</a>. Empty lines are automatically converted to paragraph breaks.

Or click the link above that says 'enable rich-text' to use the fancy editor.

Captcha
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
11 + 1 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.

Have more to say? Join the discussions at Wise Bread's Finance and Frugality Forums.

Finance Blogs - Blog Top Sites