Have not figured it out yet. Retiring in 1 month and still can't figure out what to do with the 150,000 dollars I have in Transamerica and Valic. I started saving late at 40 and now at 65 and about to retire, have no clue what to do.
Transamerica was the best on investments and returns....Valic sucked and my money I put in is still the same amount I had 10 years ago and has gone nowhere. Just found out I have over 100,000 in a pension at my present job and with no money in the bank, I will have to take a lump sum on this and pay IRS 20 percent because If I don't, I will only have social security and no extra money to go along with that to pay my monthly bills like food and rent. Has anybody here ever taken a lump sum for a pension and paid IRS and used the money after putting it in the bank, or am I the only one thinking along these lines?