Monthly payments or a lump sum? This is often times the “million-dollar question” for those in the workforce who still have access to a defined benefit, pension plan. As I’m sure you’re ...

For example, say that you’re an individual getting ready for retirement. Your employer has offered you either a $150,000 lump sum or $1,200 monthly payments for life.

When faced with the decision of taking a lump sum pension payout or receiving monthly annuity payments, your course of action will depend on your individual circumstances. Key factors include your ...

Deciding between a $500,000 lump sum or $3,500 monthly annuity payments for your pension isn’t straightforward and involves weighing several personal factors. You need to consider how long you ...

One of the most significant decisions anyone with a pension can make is taking a lump sum (annuity) versus receiving monthly payments. At some point, you’ll have to make a decision, and this ...

That means a $130k lump sum will result in a big tax hit on the first year, assuming he doesn’t roll it into a traditional IRA. The tax burden is less, with $945/mo payouts.

If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now. The lump sum could be sizable. In 2023, the average Social Security monthly ...

If you take the lump sum, you’ll get your money upfront. You can spend or invest the money however you like. But you’ll give up your pension.

A lump sum based on November 2021 interest rates would total about $660,000, Hawkins says, while one based on rates for August 2022 would total about $549,000. With that in mind, ...

GREENSBORO, N.C. (WGHP) — As the Powerball jackpot smashes another record and soars to an estimated $1.9 billion, you may be wondering what a win like that would actually look like. When you win ...

This lump sum is refunded to the resident or their estate when the person leaves the nursing home (if they move or pass away). The refund is guaranteed by the government , even if a provider goes ...