This week’s article reminds us that determining how much money one will need to save in order to have a secure retirement depends on “the ultimate unknowable: How long will you live?” The risk of running short is called a “longevity risk”, and this risk is of concern to many approaching retirement age. The Obama administration last year established rules to foster a new type of annuity that would provide a steady monthly payment until you die. If you are interested in this type of product as part of your retirement planning, call us. We’re always here to help.
