Why I Love Annuities, and So Should You
January 22, 2020 by STEWART J. WEISSMAN, INVESTMENT ADVISER REPRESENTATIVE
If you need reliable, guaranteed retirement income, annuities can be one of your best options.
Why do I say that? For one thing, annuities can act as a hedge against longevity risk — the possibility that you will outlive your money. People are living longer than ever before and, as a result, the old 4% rule is no more. According to this rule, if you begin by withdrawing 4% of your savings the first year of retirement and adjust subsequent withdrawals to account for inflation, you likely would not run out of money. However, longer lives make that a little more problematic.
Also, new research shows that the key to financial stability today is guaranteed income that ensures you can cover your basic living costs in retirement. As one of the greatest fears for pre- and post-retirees is running out of money, I believe we all need guaranteed income.
Click HERE to read the full story via Kiplinger
