The company I work for is offering an early retirementpackage. If taken, it could be in a lump sum. Is therea way to roll this money into an account and draw interest to live on? Would it be better to do this.Other option, work for another company.
Greetings, Dpinson, and welcome.<<The company I work for is offering an early retirement package. If taken, it could be in a lump sum. Is there a way to roll this money into an account and draw interest to live on? Would it be better to do this. Other option, work for another company.>>Yes, the lump sum may be transferred to a taxable account or to an IRA to continue the tax deferred nature of those funds. Both may be set up with some sort of automatic withdrawal feature to provide you with a regular source of income. However, based on your age, total tax status, and personal situation that may or may not be a good idea. You have to make that decision.Tell us more about your situation, and perhaps we can be more specific. How old will you be when you receive this money? What kind of income do you expect it to produce? How long must it do so? Where will you invest it? How much is it? With that data, we can provide you more information on what to expect in regards to taxes and income flow.Regards….Pixy
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