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Brown Cafe UPS Forum
UPS Retirement Topics
Drawing a monthly check from your 401k.
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<blockquote data-quote="I GOT ONE MORE" data-source="post: 780256" data-attributes="member: 5997"><p>FWIW</p><p></p><p>I would roll the 401k to an IRA as soon as possible after separating from the company. There are just too many negatives about keeping it in the 401k.</p><p></p><p>You have thousands of more choices on the ways to invest in an IRA. Mutual funds, individual stocks, bonds, even just holding it as cash. More choices.</p><p></p><p>The 401k doesn't provide for a cash position, except in the self managed account. </p><p></p><p>Withdrawing money from an IRA in retirement is easy as a phone call or click.</p><p></p><p>I'm not interested in annuities. There are many types and are sold by insurance companies, which should be your first caveat. </p><p></p><p>Be sure to understand completely, any financial instrument before participating in it. You should be able to tell some one else how it works and have them completely understand it.</p><p></p><p>Not interested in the size of your nest egg, but a $500,000 egg invested in a series of mutual funds earning an average of 8% over a 20 year or more history would provide an annual income of $40,000 without ever touching the egg. Now, I like that "annuity".</p><p></p><p>Good luck in your retirement, must be coming soon ...... just like mine.</p></blockquote><p></p>
[QUOTE="I GOT ONE MORE, post: 780256, member: 5997"] FWIW I would roll the 401k to an IRA as soon as possible after separating from the company. There are just too many negatives about keeping it in the 401k. You have thousands of more choices on the ways to invest in an IRA. Mutual funds, individual stocks, bonds, even just holding it as cash. More choices. The 401k doesn't provide for a cash position, except in the self managed account. Withdrawing money from an IRA in retirement is easy as a phone call or click. I'm not interested in annuities. There are many types and are sold by insurance companies, which should be your first caveat. Be sure to understand completely, any financial instrument before participating in it. You should be able to tell some one else how it works and have them completely understand it. Not interested in the size of your nest egg, but a $500,000 egg invested in a series of mutual funds earning an average of 8% over a 20 year or more history would provide an annual income of $40,000 without ever touching the egg. Now, I like that "annuity". Good luck in your retirement, must be coming soon ...... just like mine. [/QUOTE]
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UPS Retirement Topics
Drawing a monthly check from your 401k.
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