Should You Withdraw Your Retirement or Take Payments?

Retirement Income Needs

When making a decision about your retirement withdrawal, compare the total monthly income you will receive in retirement with your planned monthly expenses.

Life Expectancy

Consider both your current age and life expectancy when deciding to withdraw from your retirement.

Spousal Benefits

If you are married, you will need to make the best choice for distributing retirement benefits for you and your spouse.

Tax Implications

Taxes may affect your retirement payments regardless of the option you choose.

Early Withdrawal Penalties or Reduced Payments

Some may incur significant costs when withdrawing their retirement before retirement.
Source: https://www.thebalancemoney.com/should-you-cash-in-your-pension-2388768