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I have the opportunity to receive pension funds from a former employee of my late husband.? |
I'm only 53, so I'm considering taking the lesser amount rather then waiting 16 years to get a small percentage more. They are asking me to choose if I want to take it with or without COLA. I know that this means cost of living adjustment, but don't understand how it applies to this. Anyone able to help me understand this and decide which I should choose? Thank you. Take all of the money now ! COLA should only apply if you choose to leave the money with them, but either way choose the option that gets you the most money today and then take that money and go to the track ;) kidding.. find a quality investment advisor who can place the money into a safe environment for you until you are ready to retire or have a need for the money. The USD is very low now as the previous poster mentioned this means US assets are on sale and it is a very good time to be investing in American companies. I'm not saying this because I'm a hyper patriot either, I'm actually a Canadian. Take everything you can get in a lump sum. Inflation and cost of living will eat up a lot over a 16 year period. If it is a substantial amount, trade it in for euros because the dollar is losing value. Talk to an accountant who can show you what option is better or talk to the pension manager of the company to find out more information. |
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