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Retirement > Preparing to Transition > Your Choices
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Your Choices  
  Leaving the workforce can be liberating … and anxiety-producing. That steady paycheck has seen you through decades of change. What will it mean to rely on your own savings in the future?   white space Picture of retired couple
 
   

Take your money with you
When you leave employment, you have may have several options to consider regarding your retirement plan, pension and benefits. Should you …

  • Take a lump sum and do a rollover?
  • Leave your assets in the plan?
  • Select an annuitized payout? If so, what option should you take?
  • Use “pension maximization”?
  • Sell or diversify any stock in your plan?

Unfortunately, there isn’t a single answer to any of your key questions. Everyone’s situation is unique. That’s why it helps to speak personally with a Thrivent Financial representative. He or she can offer easy-to-understand, objective options that will serve your best interests.


Review insurance options

An unexpected accident or illness can wipe out your life savings in a matter of weeks or months. Make sure you’re carrying sufficient insurance so your loved ones will be cared for no matter what happens. Some solutions to consider include:

Also, talk to your Thrivent Financial representative about any choices you have to make regarding continuing employer benefits or applying for supplemental plans.


Should you continue working?

Remember, just because you’re reaching full retirement age doesn’t mean you’re required to stop working. Continuing in your career – or starting another – may offer new opportunities to:

  • Explore lifelong passions and interests
  • Stay connected to your community of co-workers
  • Be your own boss
  • Reach your retirement savings goals
Finding volunteer opportunities may also offer a chance to stay busy and stay involved.
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Appleton Office:
4321 N. Ballard Road
Appleton, WI 54919-0001 USA
800-THRIVENT
(800-847-4836)
E-mail: mail@thrivent.com

Minneapolis Office:
625 Fourth Avenue S.
Minneapolis, MN 55415-1624 USA
800-THRIVENT
(800-847-4836)
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Thrivent Financial for Lutherans, its affiliates, Financial Representatives and employees do not provide legal, accounting, or tax advice or services. This summary information is provided for your education, and to help you start preparing for retirement. It is not intended to be tax or legal advice. We strongly advise that you consult your legal and/or tax advisor before making any tax-related financial decisions.

Thrivent Financial for Lutherans, Appleton, WI 54919-0001, is authorized to conduct business in all 50 states and the District of Columbia. NAIC # 2938-56014. Products issued by Thrivent Financial for Lutherans are available to applicants who meet membership, insurability, U.S. citizenship and residency requirements. Not all products described are available in all states. Thrivent Financial representatives are licensed insurance agents. Insurance and retirement products, where available, are individual contracts, (not group coverage), and issued by Thrivent Financial for Lutherans. Investment products are offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415-1665, a wholly owned subsidiary of Thrivent Financial for Lutherans. Member FINRA. Member SIPC. Thrivent Financial representatives are registered representatives of Thrivent Investment Management Inc.

Bank products and trust services are offered through Thrivent Financial Bank, 2000 E. Milestone Dr., Appleton, WI 54919-0006 (Member FDIC, Equal Housing Lender), a wholly owned subsidiary of Thrivent Financial for Lutherans. Insurance, investment products, securities, trust, and investment management services and accounts are not deposits, are not FDIC insured, are not insured by any federal government agency, and are not guaranteed by Thrivent Financial Bank. Variable insurance contracts, investment products, trust, and investment management accounts may go down in value.

©1995-2008 Thrivent Financial for Lutherans

This document was last updated on Thursday, May 17, 2007 at 12:18 PM