Retirement

[KkatelynN]

When I retire I am planning to take a partial lump sum of money.  Where is the best place to put it so I do not have to pay taxes until the money is taken out? 

[xmasbaby0]

What do you mean you are taking a “partial lump sum of money” — from where?  Please elaborate. 

[SweetieJean]

Roll it over to a Traditional IRA that your establish at a bank, brokerage, insurance company, etc.

[KkatelynN]

When I retire as of the 1st I will be taking a partial lump sum of money from my employer that they are offering to me.

[xmasbaby0]

That is still as clear as mud.  Do you mean you will be taking money from a 401k?  Where is the "lump sum" coming from (not just "from my employer")  And what is it a "partial" lump sum of?

[fanfare]

you need to have your employer's custodian do a trustee-to-trustee transfer of the money to an IRA that you will set up and designate.

Your custodian of this IRA will assist you with the paperwork.