have an offer to cash out an old pension plan from a long past job, they wanna give me $22k lump sum or give me $120 a month after I retire. I honestly don't know how long Ill live past 68 but 22k pre-tax is about 15 years worth of those payments. Of course They'll take a chunk out of that lump sum for taxes but It could pay off interest bearing loans....any advice? I'm kinda leaning on paying off some debt with it...I am a home owner so I'm not going to be paying rent when I retire...knock on wood!
