Bob D., 57
Battle Creek, Mich.

“I haven’t put much thought into that, but I suppose I should. I’ll probably just start with the money from my 401(k), but I should really talk to someone about what I should do with it when I retire. I think you get the money all at once, so I’ll need to put it into some sort of investment that lets me take cash out when I need it.”

James G., 62
Columbus, Ohio

“I worked for the state for 40 years, and only got raises when the taxpayers said so. I held out for such a long time because working for the state, I’m lucky enough to have a pension, and it’s pretty sizable since the state would match by varying degrees each year. That’s what I’ll retire on.”

Laura B., 66
Suffolk, Va.

“Our advisor is just now starting to go over all that stuff with us – Social Security, savings, 401(k) and the mutual funds we have. I think we’re going to buy an annuity with the money from our 401(k), and use Social Security as spending money, but I’m not exactly sure. He’s still talking to us about our options.”

Rebecca H., 71
Englewood, Colo
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“I never worked and my husband died about two years ago, so I’ve been living off his life insurance payout for now. He did have a pension that got transferred to my name. I don’t have an advisor, but my son knows a lot about financial stuff, so he’s going to help me figure out a better way to support myself once the insurance money runs out.”