SHOULD I TAKE MY PENSION AS A LUMP SUM?

Deciding on the benefits of your pension can be tough, but we’re here to help. If you're preparing for retirement or your company has made recent changes to your benefit plan, you will need to consider some important questions to determine the best financial strategy for your future, like: 

• Do you have health issues or other concerns that your life expectancy (or joint life expectancy, if married) might be shorter than average?
• Does the value of the lump sum exceed the value of the lifetime income that you expect to collect? 
• Will your other sources of retirement income (e.g., Social Security, investment accounts) cover your expected fixed costs in retirement? 
• Are you concerned about overspending and/or considering choosing a lifetime longevity risk?  

Our free roadmap to financial success will show you if and when to take a lump sum. If you have any questions, always feel free to reach out and talk to one of our advisors today.