Taking a lump sum means getting everything in your account in cash. This is the total of all your contributions; any employer match (if you’re vested, or qualified to receive this money); any after-tax contribution you made; plus any interest on any of these amounts.

Let’s face it. There’s nothing quite so alluring as a big hunk of greenbacks. But, resist. You may lose out two ways when you take the money and run.

• Short-term tax drain
• Long-term opportunity loss