I’d take the lump sum too. If we go into hyperinflation which seems probable with the fiat currency we have, I’d rather have converted it into something tangible before something like that happens. However, I do understand his caution about losing it all in one place at one time. Diversity has always been a key to wise investing.
Take the lump sum. You’ll get about 58% of it after federal, state and local income taxes (depends on where you live) allocate 20% of it to spend, put the rest in municipal bond funds. They only pay about 3% but the income is tax free and muni bonds for the most part are solid investments. The enjoy life.