this post was submitted on 29 Jul 2023
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If you take the payments they put it in safe bonds to make a little interest and use that to pay you out over time.
If you take the lump sum, you can choose where to invest. And you can hire someone to tell you where and how to invest it at a higher rate than they'd get.
Either way they're still keeping a large chunk of it. If it means I get more money over 30 years, I'd rather have that.
I think that it would depend upon your age and how long you expect to live.
For example, if you have cancer or other terminal illness with a low chance of living more than 10 years then you’re better getting the lump sum. Same if you’re older than 80 or so.