Discover the tips and strategies that will help you achieve your retirement goals.

I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.

It all starts right here on Ready for Retirement. for retirement.

Hi, everyone, and welcome to another episode of Ready for Retirement.

Now, what we're going to be talking about today is something that a lot of people struggle with, and that is that most people who have a pension, they struggle to know whether they

should take their pension as an annuity or whether they should take a lump sum rollover.

Now, this is a huge decision. And most people are making it and they don't know the right questions

to ask that will help guide them and making this best decision as they approach retirement.

So what we're going to do today is we're going to go over some of the main considerations

you should keep in mind or that you need to consider strongly before making this decision of should

you take your pension as an annuity, which is just a lifetime income stream, or should you take

it as a lump sum rollover where you have more control over it? So quick overview, pensions are less common today,

but for people who have them, they can be a huge benefit in retirement. And a lot of people

that do have pensions today are government workers. So it's teachers, it's firefighters,

it's police officers, other government workers. Those are pensions, but oftentimes those pensions

aren't eligible to be rolled

over. Those are simply income streams that you can expect for the rest of your life as the

government pays you out based upon your years of service. What we're going to be talking about

more specifically is if you have a private corporate pension. So if you work somewhere, you

worked for a corporation, that company,

that corporation is now telling you as you're approaching retirement that you can either take a

set amount of income for the rest of your life, it may be even potentially over the

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