Depends on your health, and whether you could get a better return by reinvesting it in an IRA. Here are the key factors to consider. Read Full Article.
In Kiplinger, Scott Hanson answers the question: I’m 53, and many years ago I worked for a company that is scheduled to start paying me a pension when I’m 65. This company just now contacted me and offered to give me a lump sum today, or to start receiving a smaller monthly pension (than I’d get if I waited 12 years) this October. The specifics of the three options are as follows: I can wait 12 years and receive $446 per month, I can start receiving $267 per month this October, or they will give me a lump sum of $47,243 today. Which option do you think I should take? Read more.