Originally Posted by
DnvrFox
Your current age?
Will you "own" the annuity - i.e., it will be issued to you as a policy through an established annuity company, or is it really just a monthly payment from the company? If so, is it subject to the financial vagaries of the company?
Will it be a joint and survivor annuity? This will reduce the monthly payment noticeably. Or will it end if you die?
Have they told you how much per month for the annuity.
Typically, one year's salary spread over several years will not be a whole lot per month. Any chance of a lump sum?
Why do you need to extend your health insurance for your daughter? She is finishing her MA, and there should be a job for her somewhere. I don't know whether or not it is possible to extend it in your state if she is no longer a student - her age? Can she help pay, at least?
I'm 61, the bride is just shy of 59.
The annuity will be tacked onto my Defined Pension Plan I think....I have not yet been presented all of the details. No lump sums due to the bankrupcy proceedings.
I still feel responsible for my daughter's well being until she can fend for herself. She will be instructed to look into Medicaid, however.
Originally Posted by
BluesDawg
If you pass on the buyout offer, how confident are you that you will still have a job there a year from now? IMHO, your choice is between two unknowns.
Bingo! You've hit the nail on the head!
My bride agrees with me that the time is ripe for retiring to a part time job someplace with more humane hours. I think she is correct. We're even thinking about taking a road trip to California to visit our oldest daughter. Nothing like starting out the next phase of our life by jumping into debt right away!!
