Retirement Journey

Starting retirement is like nothing else I've ever done.  A few clicks on the KP retirement web page and the rest of my financial life is bracketed in.

I'd like to list some of the things I've learned (about retiring) and learn some new skills about blogging while doing that. 

1) You need to decide whether you are taking the annuity (monthly payments) or lump sum payout

Advantages of the annuity are

1. predictable - you know what return you will get on your investment.  Your investment being the years of service you worked.  If I understand correctly, it comes to about 6% / year on what the lump sum would be.
   
2. "guaranteed" - depending on which of the dozens of options you select
3. You can't make bad investment, spending choices & lose "everything".  The checks keep coming.

Disadvantages of annuity

1. You have no control over the money.  Just sit & wait for the checks to arrive.  Need some for emergency, want a new car, have a once-in-a-lifetime investment opportunity to buy that South American Gold Mine?  Too bad, have to wait & collect checks & save up (kind of sounds like working, doesn't it)
2. There's no C.O.L.A. Cost of Living Adjustments.  Unlike Social Security or, say, State pensions, once you select the payment plan, that's what you get, period.  Inflation at 15%, remember the early 80's, every thing cost more - the same check amount keeps coming.  Even a low anual inflation rate adds up.  I'll try to put a reference site here -