Lump sum or annuity? It’s not just a question for Powerball winners
Should a lottery winner claim the cash value of a jackpot and receive a reduced amount of money right away in a single payment, or choose 30 years of annual payments that add up to the jackpot amount? Well, few people will get rich playing the lottery, but many people do face a similar question […]
Take a lump sum? It applies to Powerball and pensions.
Take the lump sum? Or settle on the slow-but-steady monthly payout? No, we’re not talking about winning a Powerball jackpot or some other winning lottery ticket. We’re talking about what to do if your company or former employer actually has a traditional pension, not just a 401(k) plan, and offers you a lump sum if you […]
Paying for Old Age
Anyone planning for retirement must answer an impossible question: How long will I live? If you overestimate your longevity, you might scrimp unnecessarily. If you underestimate, you might outlive your savings.