Prepare for a worry-free future

If you’re self-employed and in the top echelon of earners, there’s a big potential retirement-plan tax break available to you—and you don’t even have to be Mitt Romney to get it.

View full post on WSJ.com: Retirement Planning

A Senate panel is considering tackling a burgeoning business in which veterans and other retirees sell future pension income to investors.

View full post on WSJ.com: Retirement Planning

Explain the difference between Canada Pension Plan (CPP) and a Registered Reitrement Savings Plan (RRSP).

I need some advice and don’t have anyone to ask. husbands job got rid of there pension plan. So we were told that we had 3 options to do with the money, which are:
1. transfer it into my 401 k
2. transfer it into an IRA
3. take the lump some.

Because he is married, both he and I have to agree on what to do with the money or they will just give us the accured monthly benefit.

Husbands wants to put it into his IRA and invest it. I want to take the lump sum knowing there is a 20% penelty and pay off all out credit cards and medical bills. Even though we would have to pay the penelty there is enough left to pay off all the debt or most of it anyways.

What would you do and why?
sorry about the spelling mistakes I was so upset that I just submitted it before I spell checked…
Oh and if it matters we are 32.

Steve Webb of Retirement & Investment Solutions talking about Step 5 in our 7 Steps to a Stress Free Retirement – What is your pension pot likley to be worth when you retire?