Detailed text transcripts for TV channel - CNN - 20100305:17:49:00
Do you have a formula for knowing when to take a lump-sum payment versus a monthly pension check? that's a dicey one, doug. what do you think? >> there's no magic formula, but when someone is 55, the first thing that comes to mind, it's probably a reduced pension number. you usually get a reduction for not waiting until 60 or 62, but whatever the number is, one of the places you can go to compare what you're going to get from your provider, versus what's out there, is to go to immediateannuities.com. that's a good place. you can punch in how much your lump sum would be and what you can get els...
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