Quote:
Originally Posted by ted
My retirement regret is that 16 years ago when I retired I signed up to withhold $300 a month for survivor benefits for my wife.
At the time $300 was the monthly bill for health insurance.
Frick $300 x 12 = $3600 a year.
Retired 16 years so 16 X $3600 = $57,600 in reduced pension so far.  |
I'm in the same boat with the pension payouts.
You can get full pension with benefits ending on your death, or reduced by a certain percentage with benefits paid to spouse 10 years after your death or for the rest of their life after your death.
It's like betting the craps table in Vegas. I do have life insurance that benefits the Wife when I take the old "dirt nap". Taking the reduced pension would decrease my monthly check by $300-700 a month depending on which payout I take.
Another thing to discuss with my accountant.