Saturday, November 21, 2015

CBNC - Scott Hanson argues for simplified pension laws

Hanson McClain's Money Matters Weekend Update
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Should I Take the Lump Sum on my Pension?

Depends on your health, and whether you could get a better return by reinvesting it in an IRA. Here are the key factors to consider.

Q: I'm 53, and many years ago I worked for a company that is scheduled to start paying me a pension when I'm 65. This company just now contacted me and offered to give me a lump sum today, or to start receiving a smaller monthly pension (than I'd get if I waited 12 years) this October. The specifics of the three options are as follows: I can wait 12 years and receive $446 per month, I can start receiving $267 per month this October, or they will give me a lump sum of $47,243 today. Which option do you think I should take? Read full article.

How to Plan for Long-Term Care

The whole topic of long-term care is not something most of us even like thinking about. That's understandable. We all hope that we live a nice, long life, are wonderfully healthy through retirement, and then have a quick demise in our sleep. It can happen this way and I too would love this experience. Read More

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