OP, I am going to repeat what others have said. Stay in your job. Ride it out for the next 20 years. You will have a comfortable retirement between the guaranteed pension and social security. Do not quit this job.

If you can, I would also start a IRA account. But keep the pension going. Do not cash it out. Not many people are able to wisely invest the 200k and have it grow as well as a pension fund would.

Anonymous wrote:

Anonymous wrote:Are you a man or a woman? How old were your parents or grandparents when they died?

OP here. I am a man. My grandma on my moms side is still alive. I think she is 95. My Grandpa died when he was 85. On my dad's side though both his parents died by 80.

Just take the pension. Don't take a lump sum payout. You'll be glad you did.

Check the terms of your pension. Some allow you to designate survivor rights (usually one-half of the pension) to a non-spouse, e.g., your child. You will receive less in pension if you take this route (just as you receive less in pension if a spouse is designated for survivor rights). How much less is determined actuarially taking into account the age of the survivor.

But you can also open a IRA and start saving in that on top of your pension! And great job on the emergency fund! Make sure it is in at least a high yield savings account.