<prompt> Human: Current age 59. Location US - WAPension lump sum option: 140kMonthly annuity option: 1100mCompany is offering up the ability to basically cash out now and or roll over. 401k is managed by Vanguard, not sure about the IRA option.Not sure what can what would be better in the long term. Father is still alive 2km pension SS, no debt, house owned, decent savings overall.Any advice would be great.  <response>: Take the lump sum, but roll it over to a traditional IRA and then invest it in no-load commission index funds with low expense ratios. Vanguard is a great choice to open a new IRA due to their extremely low fees and if you need extra hand holding you can opt for their personal advisor service for 0.3 or 420 per year base on 140k. 