If you are fortunate enough to have a pension, you’ll have to make a choice when you are ready to claim this retirement benefit. Should I take my payout in a lump sum or in the form of a monthly pension check?  This question might be better answered by the question: can I afford my monthly bills? A few things can effect the equation:

• Savings
• Health Status
• Taxes
• Post-Retirement Work Status

Learn more about why each of these items are important in the article Lump Sum vs Pension: A Guide to Making the Right Choice for You.

Courtesy of The Motley Fool
Lump Sum vs Pension: A Guide to Making the Right Choice for You
Deciding to take a pension or lump sum is a difficult decision, so before choosing, make sure you consider your budget, your health, and the tax risks.
By Todd Campbell, Fool.com, Sep 1, 2017