Q: I am 65 and getting ready to retire with a pension plan. Should I take a lump sum or a monthly payment? We have other resources available, Social Security and my husband's pension. — D.M., Orlando
A: You should consider whether you think you can take the lump sum and invest it to provide the same level of income that your monthly payout would provide. My recommendation at your age would be to take the monthly payment. – Judith Sanborn
Q: Is there anything yielding more than a CD right now? — D.L., Apopka
A: A diversified stock or bond mutual fund is yielding more than current CD rates. Keep in mind the higher yield in a mutual fund does come without the FDIC guarantee that the CD does. — Mike Salmon
Q: I am 36, married with two children. Should I buy term or whole life insurance? — E.G., Apopka
A: Dollar for dollar, you get a much larger death benefit with term insurance during years you need a large amount of coverage. Structure the term to match your needs. — Roger Johnson
Have a question? E-mail email@example.com. Include your name (only your initials will be printed), hometown and phone. Questions are answered by certified financial planners from the Central Florida chapter of the Financial Planning Association. Answers are for educational purposes only; you should also consult a financial professional. Questions and answers may be edited for space considerations.