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RTD Guy's let's hear how life is
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<blockquote data-quote="vantexan" data-source="post: 3645691" data-attributes="member: 24302"><p>At some point you'll take it and pay taxes. Not sure if you can roll the lump sum into an IRA, probably can. If you take an annuity you'll pay taxes. At any rate most likely if you put in 30-40 years a courier is looking at $120k to maybe $160k. Possibly more depending on if inflation upped his income but then the money will be worth less too. If a courier does have $300k in say 35 years it will be worth a lot less than what it is today. In a traditional plan they take your 5 highest paid years which for most would be in their last 5 years with steady raises. If you put in 25 years you'll get 50% of your 5 year average. You'll do much better than a lump sum paying low interest unless it's a very large lump sum.</p></blockquote><p></p>
[QUOTE="vantexan, post: 3645691, member: 24302"] At some point you'll take it and pay taxes. Not sure if you can roll the lump sum into an IRA, probably can. If you take an annuity you'll pay taxes. At any rate most likely if you put in 30-40 years a courier is looking at $120k to maybe $160k. Possibly more depending on if inflation upped his income but then the money will be worth less too. If a courier does have $300k in say 35 years it will be worth a lot less than what it is today. In a traditional plan they take your 5 highest paid years which for most would be in their last 5 years with steady raises. If you put in 25 years you'll get 50% of your 5 year average. You'll do much better than a lump sum paying low interest unless it's a very large lump sum. [/QUOTE]
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