I\'m retiring soon and I\'m wondering whether its better to get my pension lump sum or monthly? I\'m 3 years away from my retirement. I\'ve been working for the same company for over 35 years. Per my retirement benefit, I can get a lump sum or a monthly payment for the rest of my life. Which option should I choose?

I would recommend that you get the lump sum amount and just invest it. But be sure to be conservative when investing.

I\'d say be smart about it. Take the lump sum money. So you can have access to larger amount of money for you to invest and enjoy the fruits of your labor. This will help pay for unexpected expenses and relaxing vacations. It will also be good if you can write down your expenses after retirement so you\'ll have an idea of how much money you\'ll need on a monthly basis.

There has been so much scandal and defaulting on employee pensions by companies that I would take the lump sum and invest it. Sometimes companies find it cheaper to go out of business than to make good on pensions.

I don\'t even know if I would invest it. It is so scary out in the world today. So many seniors have lost their savings because of dishonest investors. I think we should go back to putting our money in our mattresses.

I agree with the others, take the lump sum amount. You can then either invest the money or just put it in your savings account. Be wise and prudent with the money though.