Why Retirees Are Wary of Annuities
February 14, 2019 by Shlomo Benartzi and Suzanne Shu
One of the biggest challenges to a successful retirement is making sure you don’t run out of money once you begin tapping your nest egg.
Many economists and financial advisers have long recommended that retirees worried about outliving their assets consider life annuities, where the lump sum used to purchase the policy is converted into monthly income that lasts the person’s lifetime.
Americans, however, have shown little appetite for such products. According to the Limra Secure Retirement Institute, Americans bought approximately 39,800 immediate lifetime annuities in 2017, which equates to a little more than 100 annuities a day.
Click HERE to read the full story via The Wall Street Journal.
Originally Posted at The Wall Street Journal on February 10, 2019 by Shlomo Benartzi and Suzanne Shu.
Categories: Industry Articles
