Lump Sum or Pension Payout

You have worked a great job for many years, and built up a nice pension payout, but you have the choice of taking the payout or taking a lump sum. How do you know which is best for you? How do you handle that large sum of money? What am I giving up by taking the payout and not the lump sum.

The questions above are common of clients who come in to see me. Most have been referred by someone I already am serving and have found a solution through using my services. The choice you make is very important and will impact the rest of your life so you really need to do some soul searching before you come to an answer.

I like to apply the Principles of Prosperity before helping folks make a decision like this. After taking them down that path they are more confident in their decision because they are comfortable with the risk decisions they made. Questions that need to be asked are what is your current financial need, and what do you think your needs will be in the future? Also can I get something in the commercial market that will pay me better than the payout option.

My job as a financial coach is to research all of the options available and " test" their viability with my client. Usually the client is comfortable with their decisions after we have done a thorough review using this process.

If you are faced with this problem and need help with the decision making process I can coach you through it so you are more confident and can explore all of your options. If you need help with it you can call my office at 610-695-8748 or email me at roy@yourwealthadvocate.com.