My experience with the lump sum is that you better do a lot of research on what to do with the money and who you give it to to"manage" it.
I had the excitement of the "tech bubble", "rising interest rates" and the "Great Subprime Mortgage Crash of 08". Add in an advisor who did market timing with mutual funds and a few others that I won't enumerate on. Even being on "Barron's Top 100 list" does not guaranty an advisor's portfolio performance. It is nice to have that $$$ to pass on to your heirs. However, a monthly pension check in the mail makes it easier to sleep at night.
All that said, I still have more money that I started with 15 years ago. I have also been able to make withdrawals for the past 10 years at the suggested 4% rate to supplement my other retirement sources. Be aware of costs and fees from an advisor than can affect the long term value of your portfolio.
There should be a large number of people in TV that can share their real world investment experiences.
|