Should I Take My Pension As A Lump Sum?

Flowchart aids in evaluating pension choices: lump sum vs. lifetime income based on personal factors.

Key Benefits

Life Expectancy Considerations Assess how a client's life expectancy influences the choice between a lump sum and ongoing payments, ensuring decisions align with long-term health expectations.

Pension Plan Viability Examine the financial health and stability of the pension plan to determine if the lifetime income option is secure and sustainable.

Risk Tolerance and Income Guarantees Evaluate the client's risk tolerance and their need for guaranteed income, balancing financial security with potential returns.

Wealth Transfer and Income Options Consider how pension choices affect wealth transfer to heirs and discuss various lifetime income options to meet estate planning goals.

About This Resource

This flowchart assists clients in navigating pension decisions, weighing options between lump sum distributions and lifetime income. It evaluates life expectancy, pension plan viability, risk tolerance, wealth transfer, and income continuity to tailor advice to individual needs.

Financial Synergies
Wealth Advisors

Financial Synergies Wealth Advisors is a fee-only financial advisor and wealth management firm located in Houston, Texas. For over thirty-five, years we’ve been serving the financial needs of individuals, families, and businesses from around the world. When we take on new clients, they become part of our extended family, and in the past three decades we’ve developed multi-generational relationships with many of them.

Our primary goal is to simplify your financial life. Our Certified Financial Planner™ professionals and advisors combine investment management and holistic financial planning to provide total wealth management for our clients. Together, we’ll construct a financial game plan and investment strategy to meet your goals, and give you greater confidence in your future.