-
Survival of the Smartest in Retirement
Posted on June 17th, 2010 2 commentsAn estimated 47 percent of Americans born between 1948 and 1954 may not be able to afford basic expenses and uninsured health-care costs through retirement, according to the Washington-based Employee Benefit Research Institute. EBRI has a database of 24 million 401(k) participants and 20 million Individual Retirement Accounts.
“The risk of outliving one’s assets in retirement, or longevity risk, has been placed squarely on the shoulders of workers,” said Assistant Secretary of Labor Phyllis Borzi said in testimony for the hearing. The life expectancy of a 65-year- old U.S. male is 82, and 85 for a 65-year-old female, according to the Social Security Administration.
There are solutions for guaranteed income contracts for life which makes sense to add to your planning. This provides predictability on outcome rather than riding the roller coaster of the market.
James Burns, Esq.
asset protection, estate planning, finance, life insurance, money, News, retirement AARP, annuity, CD, certificate of deposit, guranteed income contract, Health Care, individual retirement acccount, investing, IRA, Medicaid, pension, retirement, savings account, social security2 responses to “Survival of the Smartest in Retirement”
-
Paul Hoffman June 18th, 2010 at 00:28
James makes a great point here. We all need to plan better if we expect to have the income needed to hedge against longevity risk. To fail to plan in this area is a plan to fail.
-
Keep up the great piece of work, I read few articles on this internet site and I believe that your site is rattling interesting and has got circles of fantastic info .
Leave a reply
-
