Shortcut Navigation:

Question for the Money Doctors

Question submitted on Jul 6, 2015.

Question

I am 65 and retiring soon and trying to decide between Single life annuity and 50% QJSA option for my pension. My wife is working and is 57 with a small pension. The difference between the 2 options is 300 dollars a month. Which would be the better option. I want to enjoy my retirement and 300 dollars now could come in handy. Any advice?

Answer

To provide retirement planning advice specific to your situation, more detail is needed.  I recommend you consider engaging a CPA/PFS in your area to assist at www.findacpapfs.org

In the meantime,  you can get some general ideas from this previously published article on the 360 Degrees of Financial Literacy website:

 

http://www.360financialliteracy.org/Imported-Docs/Unassigned-Content/I-can-choose-a-single-life-annuity-for-my-pension-or-a-joint-and-survivor-annuity-that-makes-payments-to-my-spouse-when-I-die.-Which-is-better

 

 

 


For additional information visit http://www.360financialliteracy.org/

close