DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Need some opinions, I was just notified that I have a vested pension benefit

**Lictimind** · 07-07-2012, 06:34 PM

This is from a large company I work for over 15 years ago, but apparently at the time they had a pension program and they have to cash me out.

Here our my options, take the cash minus 20% tax or roll it over into an IRA which I don't have.

For the sake of argument let's make the amount $10,000.

What would you do?

Is it "let's make the amount", or is it in that same range?

Technically, you can roll it into an IRA and:
1) withdraw $10K without penalty to buy first house
2) withdraw without penalty for other stuff, such as education
3) you can buy a foreign real estate.
4) you can own gold into an IRA account, I'm sure other people have tried it.

If none of the above is possible, then cash in hand... ugh, also depends on your tax. If your tax bracket is low, take cash. If you think you MAY have a low or now income in the next few years, roll it into IRA and withdraw then.

07-07-2012, 06:34 PM	#28
Lictimind Join Date Oct 2005 Posts 682 Senior Member	This is from a large company I work for over 15 years ago, but apparently at the time they had a pension program and they have to cash me out. Here our my options, take the cash minus 20% tax or roll it over into an IRA which I don't have. For the sake of argument let's make the amount $10,000. What would you do? Is it "let's make the amount", or is it in that same range? Technically, you can roll it into an IRA and: 1) withdraw $10K without penalty to buy first house 2) withdraw without penalty for other stuff, such as education 3) you can buy a foreign real estate. 4) you can own gold into an IRA account, I'm sure other people have tried it. If none of the above is possible, then cash in hand... ugh, also depends on your tax. If your tax bracket is low, take cash. If you think you MAY have a low or now income in the next few years, roll it into IRA and withdraw then.
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