Should You Take the Severance & Pension Buyout?

It’s not all that uncommon to hear from someone who was given the option of a severance package and pension buyout years ahead of when they actually planned on leaving work to retire. Is it worth taking the offer and leaving your job or does it make more sense to continue working?

 

We received a question recently from someone in this situation:

I’m 60 and have been given two options at work. Keep working and retire in 5-6 years with a pension, or I can retire now and take a severance package & a pension buyout. How do I weigh my options?

More and more Americans in their 50s and 60s are being forced into an early retirement so let’s talk about how to figure out which option is going to be best for you. It can be an overwhelming decision, especially if you have to make it in 30 or 60 days, and this video will give you a few things to consider if you face this same scenario.