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Tag Archives: pension

: Should I take a $1,913-a-month pension or a $445,000 lump sum?

My husband and I are 65 years old. He’s retired with a monthly pension of $ 1,800, and when he dies, I will be collecting the same amount for life. My husband and I will start to collect Social Security benefits Jan. 1, 2022, when each of us will collect …

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Upgrade: I’m 40, will get a pension and have $60,000 saved for retirement. Should I borrow from it to pay off $17,500 in credit card debt?

Dear Catey, I am a 40-year-old law-enforcement officer and hope to retire in 13 or 14 years. At that time, I will have 30-plus years on the job with a pension giving me 70% of my current income with a cost-of-living annual percentage increase around 2% or 3%. Additionally I …

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The Moneyist: My mom asked for a divorce. My dad made his mother his pension beneficiary — then killed himself. Now my mom and grandma are feuding. Who deserves the pension?

Dear Moneyist, On May 30, 2018 my mother moved out all her belongings and informed my father that she was leaving him after 30 years of marriage, and that she would be seeking a divorce.  No papers had been filed at that point. The next day my father went to …

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