Lump Sum or Payout: How to Withdraw When You Retire

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.6 • 2.8K Ratings

🗓️ 27 February 2015

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This week, your Money Guys tackle a question often asked by their clients in regards to retirement planning: “Should I take a lump sum payment, or a monthly pension payment?” Brian and Bo walk listeners through the same decision-making process they offer their clients. They cover the pros and cons of each option, as well as the factors (and math) you need to take into consideration when making the decision.

Transcript

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0:00.0	It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,
0:07.0	investing, taxes.
0:09.0	You've got financial questions, he's got financial answers.
0:12.6	It's Brian Preston, the money guy.
0:15.3	Hey guys, it's your host, Brian Preston.
0:17.4	We're going to be talking about today some of the retirement questions that we get asked
0:23.2	probably more often than anything else.
0:25.5	And we kind of want to cover it with you.
0:27.1	Plus it gives us a chance to give a shout out to one of our custodians.
0:31.6	I actually use fidelity as well as Charles Schwab.
0:36.7	And fidelity, whenever I log into my own account, just like you guys would with the fidelity
0:41.6	app on my iPhone or either on my iPad, they always had these articles at the bottom of
0:46.6	the page.
0:47.6	Right?
0:48.6	And I was like, let me click on one of these things and see how good it is.
0:51.6	And what I found was, is that they're not too bad.
0:54.2	Matter of fact, the first one we're going to be doing is lump sum or monthly pension.
0:57.8	It had a 95% helpful rating.
1:00.6	Now, this is not like lump sum dollar cost averaging.
1:03.9	This is something completely different.
1:05.2	No, this is lump sum or pension or monthly pension is.
1:09.3	It's not uncommon.
	...

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