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Author: 3muttsmom 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 76418  
Subject: Re: Take Lump sum vs. $1,000.00 help Date: 11/25/2004 11:08 PM
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We can take money out of the 401-k without penalties because my husband would be retired.

You might want to double-check, but I'm pretty sure that you WILL pay a penalty if your husband isn't 59 1/2. (I think you said he's only 55?) There are a few exceptions, but not just because he's retired.

This is one of the reasons Fools are so pro - Roth. You can withdraw contributions at any time, at any age with no penalty. This helps with retirement income planning.

Just want you to be careful.

By the way, I agree with those recommending the lump sum.

3MM
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