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Hi all,
I am 55 years old,and am qualified to retire from my company since I have 10+ years with them.

I will receive my pension ~$90,000 - not money from my 401k - in a lump sum this February. The money in the 401k plan will stay invested with Fidelity (our 401k plan manager). I have savings to cover my various bills for ~ 3 months

I will seek employment after retirement, but want to be SURE I have enough money to pay the bills, have a bit of fun, etc. until I find the new job. Worst case (hopefully) would be needing $45,000 prior to getting new job.

Should I take the pension money as a lump sum distribution and open an account with Emigrant Direct using $45,000 and put the remaining $45,000 in a IRA or Roth IRA or CD or something else?

Will there be a tax penalty for taking the lump sum and putting into one of the above instruments?
Thanks, IMP

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