Monthly Retirement Pension Vs. Lump Sum Payment: How to Choose -316

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 9 March 2021

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Choosing the pension lump sum or monthly payment: let it ride, roll it, or annuitize it? Plus, spitball analyses involving the 72(t) tax election, a donor-advised fund, 529 plans, and early retirement. Also, is growth on after-tax 401(k) contributions tax-free? How much of the portfolio should be in tax-free, taxable, and tax-deferred accounts? How does income from tax-deferred accounts impact Medicare premiums? Access the transcript and financial resources, ask your money questions: https://bit.ly/YMYW-316

Transcript

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0:00.0	Today on Your Money, Your Wealth podcast number 316, the retirement plan spitball analyses continue.
0:06.7	Should Randy in Wisconsin let his pension ride, roll it, or annuitize it?
0:10.3	Should Kathy take her retirement pension as a lump sum or a monthly payment?
0:14.2	The fellas also spitball on soon-to-retire's plans involving the 72T tax election,
0:19.3	a donor-advised fund, and 529 plans, and they help Jordan
0:22.9	in Hisperia decide if he can retire early. Plus, Joey and Aston PA wants to know is growth on
0:28.6	after-tax 401K contributions tax-free, and what percentage of the portfolio should be in tax-free,
0:35.0	tax-able, and tax-deferred accounts. Finally, how does income from
0:38.5	tax-deferred accounts impact Medicare premiums? Steve would like to know. Click Ask Joe and Al on air
0:44.3	at Your Money, Your Wealth.com to get a spitball analysis of your retirement plans. I'm producer Andy
0:50.1	last, and here are the hosts of Your Money, Your Wealth. Joe Anderson, CFP, and Big Al Clopine
0:55.4	CPA. We have Randy. He writes in, Alan. Hello, YMIWT. I live in Wisconsin. Drive a
1:03.9	2018 Chevy Colorado four by four pickup truck. Yeah, you got to have a pickup truck in the
1:09.9	You know, I think that's a perfect vehicle for Wisconsin.
1:12.6	Yeah, I think so.
1:13.6	Take your dogs in the back and anything else that you want to.
1:16.6	Keggerator, something like that.
1:19.6	Okay, well, I suppose.
1:21.6	He's got a six-year-old Beagle mix.
1:23.6	Cooper, who was also a Packers fan.
1:26.6	How do you know Cooper? Cooper's a Packers fan. How do you know Cooper?
1:28.2	Cooper's a Packers fan?
	...

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