** The installments can be discontinued where upon, the discounted value of future installments is paid in a lump sum
OR do we put down about 50K on the larger house and re-finance for a 15 year fixed rate mortgage it for a lower rate while continuing to pay the extra $ 300 / month on the home while also going at the same rate of payment on the other house but just putting a
large lump sum value (~ 35K towrds the second house)?
** The installments can be discontinued whereupon, the discounted value of future installments is paid in a lump sum
The withdrawal base is used solely for income calculation and is not accessible as
a lump sum value.
The withdrawal base is used solely for income calculation and is not accessible as
a lump sum value.
For comparison, a 30 year old with a $ 100 annuity payable at age 65 would have
a lump sum value of $ 3,011 at 4.52 %, but a lump sum value of $ 1,931 at 5.58 %.
My salary is higher than that yet for September I only had ~ $ 230 added to
my lump sum value.
The change in your accrued benefit by month will obviously have some impact on
the lump sum value, but not as much as the change in interest rates if there is one.
If the income is shared to pay alimony, then it might be unfair to divide
the lump sum value of the practice in equitable distribution (which would be a double dip).
The lump sum value, in such cases, will be arrived at by discounting the monthly payouts at 4 % p.a.