Until recently, many retirees have been able to rely upon the three-legged stool of retirement income sources: A defined benefit pension plan that guarantees a lifetime income, their own savings, and Social Security.
lump sum, annuity, payout
In the realm of investment advice, value is defined by what you receive from your advisory relationship that meets or exceeds your expectations.
If you recently received a letter offering you a lump sum distribution or an annuity from a former pension plan, you may be trying to weigh your best options. Your former employer can tell you what the choices are but they are not able to offer guidance about what choice will be best for your own situation. Here are some things to consider as you make your decision.