Retirement Solutions, Simple and Reliable
Contrary to popular belief, classic pension plans have not disappeared. Corporations have mostly jettisoned them, but highly profitable small businesses are giving them a second look. Why are small business owners deciding to adopt old-school, employer-funded retirement plans? The tax breaks attached to a defined benefit plan may be substantial. In fact, if these […]
Do you have the option of receiving your retirement money as a lump-sum retirement payout? Consider all your options and speak with a retirement professional first because you may want to turn that choice down.
A new MetLife study, Paycheck or Pot of Gold, warns of the “lottery effect” that can occur when all that money makes its way into a household at once. Surveying more than 1,050 retirement plan participants who had taken lump-sum payouts, the survey found that 21% had already used up 100% of that money; on average, it had disappeared in less than six years. In less than six years! Read more about Why You Might Not Want a Lump-Sum Retirement Payout …
