/ Ask Terry Questions / Retirement


By Terry Savage on January 10, 2022 | Financial Planning / Retirement

I have a pension and 401k The pension has a balance close to 500k and the 401 has a balance of 1.00mm.. I left my Job in October of 2019, I have not pulled either balance from my employer.. I am meeting with financial advisors for direction, However On my Pension fund if I left at my employer I would obtain a $2500. Payment each month.. I have received a couple of different responses to my question, should I leave it with my former employer and take the monthly 2500.00 vs. Taking it and investing in different options.. Thank You,

Terry Says

Well, you have a big target painted on you, if you’re going around asking for advice on $1.5 million! I would suggest you meet with a FEE-ONLY FIDUCIARY financial planner — one who is not trying to sell you anything to earn commissions, or management fees.
They will go over your entire financial situation and goals. Although you left your job, you didn’t give me your age, There are other issues that go into this decision. For example, you didn’t mention Social Security, or whether you are married, or your living situation (rent or own, planning to stay there?)

Go to www.Wealthramp.com and get matched with a trusted financial planner who is a fiduciary. The small fee will more than pay for itself in good, honest advice designed for your personal situation.



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