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Do the payments increase over the years as inflation cust your purchasing power? If not, then take the cash.
You should be able to get a better return out of the market.

I agree with rjm1. When my husbnd retired a year ago, we did not have the option to take a lump sum. He will receive the same amount forever since it is not inflation indexed. Assuming we live another 10+ years, those monthly payments will buy a lot less!

We did take his 401K in a lump sum instead of rolling it into an IRA.

We also opted for the 100% survivorship. I recently realized that my husband is worth more to me dead than alive, since if he were to die first, I would receive his SS payments (I now receive half his amount; I have been a parasite for 40 odd years).

We have both survived the first year of retirement and are still speaking to each other. It's a miracle!

Carol.....occasionally though I do think about what he's worth to me!

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