Comments on: Take the Money or Leave it? http://www.canajunfinances.com/2008/09/05/take-the-money-or-leave-it/ Personal Finances and Consumer Concerns, essays, stories, examples and how to articles with a distinctly Canadian Point of View Fri, 19 Mar 2010 18:56:53 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Gene http://www.canajunfinances.com/2008/09/05/take-the-money-or-leave-it/comment-page-1/#comment-3001 Gene Fri, 05 Sep 2008 16:51:36 +0000 http://www.canajunfinances.com/?p=1593#comment-3001 The one time I was faced with this decision, I took the money in an LIRA. I then invested in a stock that returned 1000%, so that was lucky. Anyway, at that time, I only had about 3.5 years in at the company, and was moving on. I was 30 years old, and would have had to wait a long time to start drawing from the pension. The amount would have been small, and I like managing my own money. So, I took the commuted value of the pension. The one time I was faced with this decision, I took the money in an LIRA. I then invested in a stock that returned 1000%, so that was lucky.

Anyway, at that time, I only had about 3.5 years in at the company, and was moving on. I was 30 years old, and would have had to wait a long time to start drawing from the pension. The amount would have been small, and I like managing my own money. So, I took the commuted value of the pension.

]]> By: DAvid http://www.canajunfinances.com/2008/09/05/take-the-money-or-leave-it/comment-page-1/#comment-2999 DAvid Fri, 05 Sep 2008 14:50:38 +0000 http://www.canajunfinances.com/?p=1593#comment-2999 I would consider the future solvency of the company. If you expect it will be insolvent before retirement, then take the money & run, even though you lose the employer contribution, and the potentially greater benefit. The LIRA should allow you to choose the investments within it, so you can build your retirement nest egg with products you are satisfied to own. DAvid I would consider the future solvency of the company. If you expect it will be insolvent before retirement, then take the money & run, even though you lose the employer contribution, and the potentially greater benefit.

The LIRA should allow you to choose the investments within it, so you can build your retirement nest egg with products you are satisfied to own.

DAvid

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