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Should I take a $1,913-a-month pension or a $445,000 lump sum?


My husband and I are 65 years old. He’s retired with a monthly pension of $1,800, and when he dies, I will be collecting the same amount for life. My husband and I will start to collect Social Security benefits Jan. 1, 2022, when each of us will collect $2,600 a month.

We have total assets of over $3 million, including Roth IRAs, traditional IRAs and two properties. One of them is for rent, with a monthly profit of $1,800. We have no debt and no long-term care insurance.

I am going to retire in March 2021. When I retire, I have two choices: 1. Collect a monthly pension of $1,913, with my husband continuing to collect the same amount upon my death. 2. Take a…


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