The lump sum pays to be young but not old. If I roll to a 401k I only need to beat 4.5% on the market since I'm young. If you are older say in your 50s it would be more like trying to beat 10% on the market. The magic age looks like it is in your late 40s assuming 7% on the market. Of course each offer and risk tolerance will vary.
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If you did not receive a letter and are expecting one, it is most likely due to you having the ability to view on-line. My wife and I are both ex-GE employees and never received a letter. Called the early pension # and they said it was due to us being able to access all the information on-line. They will mail a physical letter and all the details if you request it.
Rolling into an IRA is a better bet than GE stock. Sure the stock is low now, but it can go bust and that would be putting all of your eggs in one basket. An IRA adds a lot of diversity to your portfolio. Note, an IRA is still a bad option if you are already 50+ in age.
I was with GE for 8 years. I quit 3 months ago. If I haven't seen my payout letter, does that mean I am not getting one? I was under the impression that most people that are receiving them.
You could take the lump sum and invest it in GE stock. It's at the $8 - $9 range now. In 10 years it should be $40 - $50 range. See there, you've quadrupled your money!
When I was young I calculated my long term funding for my older years . Was not counting on GE changing the rules when I got older . My advice don’t trust GE