Im Retiring From Boeing. Should I Take a Lump Sum or Monthly Pension? WSOC TV [Video]

Deciding to take a lump sum vs. a monthly or yearly payout is a great but difficult choice. You need to win the lottery — or the workplace retirement benefits lottery — or experience some other stroke of fortune to have such options before you.

Depending on the size of your windfall, relying on a calculator and taking an honest look at your future goals can seem daunting. You could hire a CPA or financial advisor. You’ll want to consider taxes, current assets, retirement plans and more.

Or you can ask money expert Clark Howard.

Clark’s Choice: Lump Sum or Monthly Pension?

I’m retiring from Boeing and worried about the company’s financial stability. Should I take a lump sum or a monthly pension payout?

That’s what a Clark listener recently asked.

Asked Rob in Kentucky: “I’m retiring from Boeing after working there since 1997. Fortunately, I was hired while the company still offered a pension.

“At issue is whether to take a lump sum of $245,000 or receive a monthly distribution of …