Reported 2 days ago
After the death of a spouse, the decision between claiming a monthly pension of $495 and a lump-sum payment of $89,000 poses significant financial implications. The lump-sum offers immediate access and potential for investment growth, but comes with risks and less security. On the other hand, choosing the monthly pension ensures a steady income but may limit access to funds for emergencies. Each option has its pros and cons, and personal circumstances, financial knowledge, and future goals should guide the decision-making process. Consulting with a financial advisor is recommended.
Source: YAHOO