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I need help fast. I am 59, retired from a government job, and receiving a monthly pension. While working, I had the opportunity to deferr income in a 457 deferred account. Now retired, these funds cannot be rolled over. I have three choices: lump payment, up to 20 years payment, or an annuity.
In order to keep the funds in the stocks plan, I can only select a payment plan of 20 years. In order to stretch the payments over a longer period, I would have to select an annuity.
I am offered a fixed or variable annuity.
All the information I have read points to the Foolishness and expense of such plans. What would you suggest????
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