Post: #1

I have a pension with a major company I use to work for. Not sure how they are investing it but it seems to be growing pretty decently.

My question is should I leave it or take it out?
I have until age 55 to be able to withdraw it or I will have to wait til retirement age.
The company will never go out of business, they are the national phone company.
I am not desperate for the money, if I take it out then it will be considered income.
Current value 30K!

Post: #2

Can you not roll it into an IRA/other managed investment?

Post: #3

Pensions won't exist anymore for anybody when your 55. Use the money now and invest in real long term options. Your company may never go busy but their pension fund will.

Post: #4

That was my question, if I take the money out what do I do with it. Of course I want to get good returns, RRSP (401K) does not exactly give me that.

Post: #5

If i were you, id take the money, add another 20k to it and with 50k, id head to Guangzhou, China where with that capital, id be able to stay at least 2 years without money worries nor any need to work. During that time, id hustle, make contacts, start and build a bizz while living a very comfortable lifestyle (a lifestyle much better than anything you could ever dream of in Toronto) and having a blast there. Afterva year or two, provided you are
careful and smart, you should have a very decent bizz there. Once you get in the right circle of contact in GZ, you will have more opportunities that you'd lnow what to do with. One your major challenges will be to stay focused on one project at a time and not start a new one every week.

Post: #6

VP - thanks for the recommendation, my trouble is that ALL my money is tied up in RRSP. So if I withdraw that then the Canadian government will be licking there lips.

As for China, what business would you start? Are you talking importing goods back to Canada?

I am looking to bounce springtime for awhile.

Post: #7

Rudeboy,
I pmed you.

Post: #8

hey op the fed just announced QE til infinity you should play the precious metals that is where the bull market is. id recommend http://www.sgtreport.com for further info into getting started in understanding precious metal investing

Post: #9

Invest in real things: Commodities, Rail shipping and transport, real human capital outside of the USA/Canada/West that will hold demand and value in the 'new economy'. People have mentioned China; Invest in Farm land in South America, Mines, under-valued Real Estate etc.

Nicaragua is going to start consturction on a Canal that will undercut the Panama Canal and offer a iron clad partner ship with the Chinese. It is being finances by a Hong Kong firm to the tune of $30Billion. The support systems that will be needed to build, maintain and grow this Canal will be immense.



.....

30K is that nice number where you can plop it down and watch it grow. Work for your play money, stick that 30 large somewhere and make it work for you long term.

401Ks and RRSP's are rackets. The Govt and Finance Industry hand in hand to nickle and dime you. Watch in 20 years as the Govt will tax the living hell out of them when it comes time to withdraw. Don't discount them totally as there are still loopholes you can you use to fish and bounce around money to save yourself from tax hits today.

Post: #10

Kosko - thanks for the info and yes RRSP is a total racket. I actually believe that I cannot withdraw the whole amount, I will research further.

You still in Tdot?