If you are retiring with a Pension or a Thrift Savings Plan (TSP), or if you just hit the lottery jackpot, you are going to face one massive decision: Should I take the lump sum or the monthly annuity payout?

In this video, Shawn Plummer from The Annuity Expert explains why taking the lump sum is almost always the better financial move. When you choose the default monthly annuity benefit through your employer or the government (like the TSP MetLife annuity), you give up total control of your money in exchange for an irrevocable, rigid payment plan with a poor death benefit.

Shawn reveals the ultimate "compromise" strategy: taking the lump sum to maintain control of your cash, and rolling a portion of it into your own personally-owned IRA Annuity (or Non-Qualified Annuity) with a Guaranteed Lifetime Withdrawal Benefit (GLWB). This stra ...