How to make it, spend it, and invest it

31 Jan 2020

Mastering Money 1/31/20

Post by MoneyRadio Staff

Since the summer of 2019, there has been a rising trend among large companies to offer BUYOUTS of pension benefits, which can result in a substantial lump sum to a person on the verge of retirement–maybe you.  So, if you’re faced with the decision,  which is better: Taking the buyout or staying with the pension and hoping the company will never reduce your benefits?  In October, General Electric—once  a FINANCIAL GIANT in the economy — became the latest U.S. company to announce major changes to its defined benefit pension plans. GE  announced it would be FREEZING benefit accruals for approximately 20,000 active employees! It further said it would be offering lump-sum buyouts to about 100,000 FORMER  employees who have not yet begun their pension benefits!  You may be shocked to learn what world famous CPA Ed Slott has to say about which is better, the lump sum or the pension? We’ll review Mr. Slott’s insights and then mortgage expert Mitch Boxberger joins us for the Q & A.  Don’t miss today’s show, MASTERING MONEY is on the air!!!