willybiggs wrote:If I decide to retire at 60, here are the two choices I am looking at:
1. $3862/mo with 100% pop up to 4470 if my wife predeceases (she gets the 3862 if I go first)
2. Lump Sum with annuity: $528,000 Lump Sum plus $1185/mo
This is a non-COLA'd pension. Which represents the best choice to you? We do have substantial investment assets, so not totally dependent on the pension.
1. Ask your wife's opinion. I'll bet she goes for #1.
2. Based on the fact that you have other assets, #1 provides diversification.
3. Regarding #1 - Is there another choice/option with slightly larger monthly amount, but no increase if your wife dies? Just seems a bit odd that you get more, if your wife dies first.