James Bartela

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• February 1, 2007, on Early Retirement:

  I really like your list of how rich families preserve their wealth down to many generations; especially the suggestion on buying a huge life insurance policy and getting monthly annuity payments from it, set for life! According to this site, it is also not advised to take out a lump sum distribution from a 401k because:
  *Starting from 2006, the highest one time lump sum payment that a 401k retirement saver (between 62 to 65) can receive is $175,000. This limit is lowered for younger people.
  * Starting from 2008, the assumptions (such as interest rate, life expectancy & rates of return on investment) that we used will change from the 30 year Treasury bond rate to the corporate bond interest rates. Since corporate bonds have higher risk than treasury bonds, their interest rates and yields are consequently higher. Therefore, the lump sum payments that you receive will be even lower. The only disadvantage of...