(Mid-America Pension Rights Project): Lump Sum vs. Annuity: Which Should You Take?

Via Smart Asset

By Sarah Fisher

If you’re lucky enough to win the lottery or have a pension plan, you may need to decide whether you want to take your earnings in a lump sum or an annuity. And if your goal is to maximize your earnings, you may want to take into consideration your projected lifespan, inflation rates, and your own spending and investing habits. We break down the difference between a lump sum and an annuity, plus offer examples to help you decide which one you should take.

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