Pension Options: Monthly Annuity or Lump Sum?

While the days of big, plump retirement pensions are dwindling, I still have regular conversations with individuals who have pensions through their workplace. This is a tremendous benefit generally providing a guaranteed stream of monthly payments (an annuity), and may include payments for a spouse or beneficiary.

But in some cases, receiving an annuity payment may not be the best option. In this article I’d like to explore the pros and cons of annuitizing your pension, versus another option that’s typically available as well: the lump-sum payment.

My Brush With Death

On a warm summer morning in June 2009, I awoke to a slight ache in my right kidney. This didn’t alarm me too much. I had felt kidney aches before, and this just seemed like another small episode, easily resolved with my usual remedies. Besides, I was a first year MBA student and had earned a great internship. It was time to work and impress!

5 Ways to Lower Your Taxes Before 2020 Is Over

As we anticipate the final quarter of 2020, this has certainly been an unusual year in many, many respects. Two substantial laws were signed into law that impacted the taxes of nearly every American: The SECURE Act and the CARES Act.

Between the implementation of these two laws and existing rules already in place, there are several tax-saving strategies that come to mind which families should consider taking advantage of before the end of the year.