Asked by Candi  |  Submitted March 21, 2015

Should I take my retirement out when I retire and invest it, and what should I invest it in?

I am required to contribute 9% of my income. My work contributes 13%. I have worked there 8 years with approximate income of $27,000 per year Until this year starting 01/01/15 it increased to $30,000. I plan to work at least 3 more years.

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  Answers  |  4

March 21, 2015

Candi,
How old are you and how much money do you have in your 401k plan? I would need to know some more detail before I would advise you.
Mike
C

Candi | 06.23.15 @ 17:54

I will be 63 years old in October.

$commenter.renderDisplayableName() | 02.28.17 @ 10:33

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June 23, 2015

So, we're talking about less than $100,000.00 here, right? I don't know your age, but the only way to safely invest that money so that it never runs out is a Fixed Income Annuity. Good Luck!

$commenter.renderDisplayableName() | 02.28.17 @ 10:33

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June 23, 2015

I will be 63 year old in October. I am not sure how much I have. I have been here 8 years.

$commenter.renderDisplayableName() | 02.28.17 @ 10:33

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July 28, 2015

Hi Candi, be careful with any sort of annuity as these usually carry a lot of high fees. I would suggest looking for a fee-only financial advisor who can advise you on what to do in regards to both your retirement and investments. $100k is not a lot of money so depending on the lifestyle you want to live during retirement you may need to work longer. The timing on when to take social security would be very important for you as well.

$commenter.renderDisplayableName() | 02.28.17 @ 10:33

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