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I am 50 years old. And yes, it is a lump sum from a defined pension. I am going to work part time still. But I really only need to find out the best way to draw from that lump sum whether it be dividends, interest, etc.

What is the best way to draw money on a lump sum of $680,000? Assuming that is all I have. Could I roll over to an IRA and withdraw any interest yearly? A 72t? I would need approximately $25k a year. Thanks for your advice in advance.

A Verizon pension. Pretty secure (as of now) It is funded at 90%.

If we can assume you have no other savings or equity and can retire at 50, which option would you suggest? A) Lump Sum of $680,000 B) Monthly Pension of $2200