Asked by Terri  |  Submitted March 16, 2015

My husband is 61 working full time with a great company that takes care of their people. He is drawing a pension fund while working.

We max out his retirement inclusions.I work full time in health care with shrinking amounts contributed by the hospital. Raises are smaller. I also contribute max to retirement and carry our insurances. Suggestions on handling our program to max our money. FYI my husband is 6 1 and I will be 60 soon.

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  Answers  |  2

March 16, 2015

Hi Terri, thanks for your question. You said your husband is drawing a pension fund while working. Why is not letting that defer? If he is required to begin pulling from it, I would recommend taking a lump sum payment and rolling that into a low cost FIA that will produce income in the future. Usually includes an upfront signing bonus of 4%-7%, and when the income is triggered, it's guaranteed for life.

$commenter.renderDisplayableName() | 09.20.20 @ 04:37


April 06, 2016

Hi Terri,

Since you both are just around 60, and he is still working, my first question is do you need the money now? If not,, maybe roll it over into a self-directed ROTH. Yes you will pay taxes now and after 5 yrs you can withdraw as much as you want with not additional taxes. As an Investment Manager, we can generally customize a strategy that replaces the $$ you give up in taxes within that 5 yr term. So, the compounding of those dollars gets even better going forward. Unlike an Annuity, we may be able to put you in a strategy with no fee unless you get your MARR Minimum Acceptable Rate of Return. This puts more $$ in your Owner's Equity pocket.

Also, there are some Income only Annuities with over a 6% rate and no reductions due to contribution rate, points, caps, or spreads. You can add those fees if you want to.

As a Fiduciary, we always do what is in your best interest. Contact us directly to discuss your situation in greater detail. No obligation

It's not what you make, It's what you keep that determines our lifestyle.

$commenter.renderDisplayableName() | 09.20.20 @ 04:37