UnThreaded | Threaded | Whole Thread (44) | Ignore Thread Prev | Next
Author: OldOne Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 78664  
Subject: Re: Is my wife smarter than me? Date: 8/26/2006 2:25 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 8
One more thing to think about with regard to a pension.

You are mentally & physically pretty sharp right now, and will be for quite some time. But, there will come a day when both you and your wife start to decline.

I have read a lot of stories about people being swindled out of their entire portfolio later in life. If you take a lump sum, you can lose it all in any number of ways. If you take a pension, you might lose current income to a shyster, but you can't lose future income.

Basically, you will be "moderately afluent" without working at all for the rest of your life, guaranteed, if you take the pension. The game is over and you have won.

If you need the "thrill of the chase" set up some kind of business and run it in retirement. Or develop a serious hobby. But don't risk everything by taking a lump sum.

Old One

Who has a similar situation, but does have a portfolio also.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (44) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Post of the Day:
Berkshire Hathaway

A Financial Prognostication
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.