How do (did) you know you are a millionaire?

Parent Cafe
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If I am working my calculator right, if you need the money to last for 30 years, you would have to make 6.3% in order to match the pension.</p>

<p>The difference being, if you drop dead after a year, your heirs get $400K+ instead of nothing. Of course, if you live to be older than 95, you may run out of money.</p>

<p>I would take the lump sum.</p>

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<p>Check out this site.<a href=“https://www.networthiq.com/[/url]”>https://www.networthiq.com/&lt;/a&gt;&lt;/p&gt;

<p>Saw an article in NYT today mentioning it.<a href=“Comparing Yourself to Others: It’s Not All Bad - The New York Times”>Comparing Yourself to Others: It’s Not All Bad - The New York Times;

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<p>notrichenough, you certainly can’t count on a 6.3% return. I would take the annuity!</p>

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<p>[3</a> strategies to guarantee income in retirement - Sep. 21, 2009](<a href=“http://money.cnn.com/2009/09/21/retirement/retirement_income.moneymag/index.htm]3”>http://money.cnn.com/2009/09/21/retirement/retirement_income.moneymag/index.htm)</p>

<p>I remember reading an article in Money Magazine a couple of years ago that gave some thoughts of how to take our little nest egg and turn it into the money we’d need to take us to the end of our lives. It shouldn’t surprise anyone that the answer they came up with included a basket of investments, not one type only.</p>