I think your question gets into a very significant topic of what you need versus you want and where those sources of income are coming from. Some important factors to consider are:
- Family longevity
- Is the pension inflation adjusted or stagnant over the life
- Risk tolerance as an investor
- Long-Term Care planning
- When do you plan to draw SSI
- Flexibility of assets vs fixed income
Once you know these things, this will further help us determine whether a lump sum or pension makes sense for you.
