Question: I am 61, married and want to retire at 62. My husband is 63. We both can get pensions with either a monthly payment or lump sum, and we both have 401(k)s, while I also have a traditional IRA. Our portfolio is currently worth around $1.4 million, which includes the lump sum pension payout, and we have $59,000 in savings. But we also have $50,000 in credit card debt and owe $315,000 on our mortgage at a 2.25% rate. Should my husband and I both take the lump sums vs. the monthly pension amounts? We are both in relatively good health.
Secondly, my 401(k) is currently with a large registered investment adviser. Ive been thinking of rolling it over while I am still employed to a large independent mone…
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