Your Retirement Package Has Arrived. What to Do?

Editor's note: This column first appeared in The Save Safe Plan on Friday, May 2. For more information on The Save Safe Plan, click here.

I was just offered a retirement package by my company, Verizon Communications(VZ Quote). I have worked for them for almost 35 years. In this package they offer a lump-sum payout. I like the idea, but need to put this money somewhere where I can have monthly income to live on.

Unfortunately I don't have anything else to fall back on. I can kick myself for not planning for my retirement sooner, but this is what I have to work with. Any idea as to where I can put this $440,000 if I do retire? Thanks. -- Ray

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