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Distributions from Your Retirement Plan
Making the Decision: Annuity or Lump-Sum?
If retirement is five years or less away and you're eligible for a qualified retirement plan benefit, you should start evaluating which payout option might be best for you. While this decision doesn't become critical until retirement is staring you in the face, projecting which payout looks best can help you make necessary adjustments today. Should you save more for retirement or cut back on expenses? Will it be necessary for you to purchase additional life insurance? There are many small decisions along the way before making the big decision: Should you take an annuity payout or a lump-sum distribution? IMPORTANT NOTE: You need to evaluate your alternatives. Understand that there is no single "right" answer. The optimal strategy is unique to each person because each of us has unique resources, circumstances, and goals. Share Article:
Investment and insurance products and services are offered through Osaic Institutions,Inc. Member FINRA / SIPC. Osaic and Friend Bank are not affiliated. Products and services made available through Osaic are not insured by the FDIC or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any bank or bank affiliate. These products are subject to investment risk, including the possible loss of value.  |