pension lump sum

[cyberknight]

The only way to decide how much lump sum to take (over and above what you might NEED to clear debts) is to make your own assumptions about life expectancy, investment growth, and inflation. Inheritance may also be a consideration. Work out the break-even point. Most financial advisers say about 26 years, so take the lump sum. I came to different conclusions.

if i make it to 92 i will be amazed , mum died in her 30s and dad made it to 69 .

 

[rogerzilla]

It's different if you retire at 55. The break even point for me was 22 years.

 

[cyberknight]

It's different if you retire at 55. The break even point for me was 22 years.

56 and i have a 12 year old kid ( and a nearly 17 year old ) so im working till im dead anyway

 

[middle of the road]

I would suggest talking to her with a counsellor. Get some counselling and support to deal with all the issues marriage, kids, debts etc.
Then you can work out a plan and you'll be stronger together with a plan on how your going to through the present crisis and onto better times.
First talk then get financial advice.

If you don't your heading into the apocalypse.

I say that as a fellow cyclist Dad of four who is in that place, which I won't wish on anybody.

Been there, still have financial scars but I felt so much better when I got shot of her. It wasn't just the debts but all the lies I was told. Anyway I met a smasher who is prudent with her spending.
I never cashed in my pension but did cash in a load of shares to pay off her debts. I wish I'd let her face the consequence of her extravagances but I didn't like the idea of debt collectors knocking on my door. I was lucky that no children were involved.