No. of Recommendations: 0
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.

Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.
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.