What's making you happy today?

[Gravdigr]

Originally Posted by Glinda

Cannabidiol.

...is a cannabis compound that has significant medical benefits, but does not make people feel “stoned” and can actually counteract the psychoactivity of THC.

What kind of communist, twinkle-toed, John Wayne-hatin, piece o' shit came up with that?!?!

[Glinda]

Originally Posted by Gravdigr

What kind of communist, twinkle-toed, John Wayne-hatin, piece o' shit came up with that?!?!

Inorite!?

[Griff]

Happy = Day trip to Tug Hill Plateau xc skiing with Pete today.

[Glinda]

I got a very interesting piece of mail today . . .

Back in the late '90s, I worked for Consumers Union (publisher of Consumer Reports) in their San Francisco consumer advocacy office. It was a grant-funded position that lasted three years. During that time, I contributed the max to a retirement fund which Consumers Union matched.

Today's mail included a nice letter from the retirement fund, letting me know that they're offering a one-time option for people who are at least 59.5 years old, no longer work for Consumers Union, and have at least $10,000 in their retirement account.

I can either take a lump sum payment ($22,706, less taxes), roll it over into an IRA, or turn it into a monthly annunity ($186) that starts paying immediately and pays out until I croak.

What to do? What to do?

[Gravdigr]

I'd never notice $186.

Take the chunk and put it in something similar, or roll it.

Then again, if the $186 would make a noticeable difference, then that might be the thing to do. Maybe that matches nicely with a monthly bill. Hey, free electricity/groceries/heat/water/weed for life!!!

Yeah, that wasn't any help at all.

[limey]

I got a recent offer from a similar pension fund - they wanted to buy me out because if I take the money now it's the cheaper option for them, and it was impossible that putting it into a new scheme (i.e. IRA in your case) would bring me the same income that is available under the current scheme. My financial adviser said stick. YMMV.

[Undertoad]

less taxes

Roll it over and avoid that if you are making ok money now. You'll pay taxes on that monthly annuity too, right?

[Glinda]

Originally Posted by Gravdigr

I'd never notice $186.

Take the chunk and put it in something similar, or roll it.

Then again, if the $186 would make a noticeable difference, then that might be the thing to do. Maybe that matches nicely with a monthly bill. Hey, free electricity/groceries/heat/water/weed for life!!!

Yeah, that wasn't any help at all.

I did consider that $186 a month isn't much, but would cover my TV, phone, and internet bills. Of course, I could croak at any time, so I'm not convinced an annuity is a good thing.

Besides, I've decided I need a fence along my southern property line - the asshole neighbor on the other side has forced me to take him to court because he won't pay his share of the cost to repair my road (logging truck damage). That southern boundary is 310 feet, and I want a GOOD fence that won't crap out 10 years from now - I've decided on clear-coated cedar with metal posts in cement. I don't want asshole neighbor or his seven brats crossing my property line ever again. That's an $8200 bill.

Plus, I've got to pay the full road repair cost myself, and will eventually get repaid by asshole neighbor. That's $5900 to me (with an eventual $4747 repayment).

And, I'm going to have the road construction crew move some land around my property to give me a flat/terraced back yard (20% slope back there right now) and build a 20' x 30' graveled pallet so I can one day build a nice outbuilding. That's another $5000 for a total of about $19,000.

My initial thought is to take the lump sum payment, pay for all this shit, put whatever's left over into my IRA, and put the eventual payment from asshole neighbor into the IRA as well.

Originally Posted by limey

I got a recent offer from a similar pension fund - they wanted to buy me out because if I take the money now it's the cheaper option for them, and it was impossible that putting it into a new scheme (i.e. IRA in your case) would bring me the same income that is available under the current scheme. My financial adviser said stick. YMMV.

Yeah, I need to talk to a money guy. *sigh* I hate money problems, but at least this is a GOOD money problem.

[Glinda]

Originally Posted by Undertoad

Roll it over and avoid that if you are making ok money now. You'll pay taxes on that monthly annuity too, right?

Yeah, I'm bringing in enough right now to live on, but see my previous post . . . lots of expenses coming up that I don't want to go into debt over.

Not sure about paying taxes on the annuity, as Washington state has no income taxes . . . ?

Gotta get a money guy, I guess.

[Undertoad]

No WA taxes but the Fed gummint do take a bite.

[Clodfobble]

I guess for me it would depend on how much retirement savings I already had. $186 a month isn't a ton, but unless you die in the next ten years, it is more than the payout. You probably won't die in the next ten years. But if I already knew I was going to be okay--through existing 401Ks, other pensions, or whatever--then I'd probably take the lump sum just for the convenience of it. Long-term fixed income is subject to the whims of inflation anyway.

[xoxoxoBruce]

So that lump would be about $15,000 after taxes? I can see the advantage of doing the shit you have/want to do now and be done with it. I would roll it into an IRA but you have to decide what works for you because you're mileage may vary.

I think you need CROWS on that fence.

[Gravdigr]

Originally Posted by Undertoad

...but the Fed gummint do take a bite.

Somebody please tell Ndamukong Suh.

[Glinda]

Originally Posted by Gravdigr

Somebody please tell Ndamukong Suh.

I dunno. I could probably make it on $20 million.

[xoxoxoBruce]

City of Detroit's 1 or 2[%], so you've got 43 [% of the deal], then you throw your agent fees, that's 45...

Jerry Maguire only gets 2%??