How To Avoid Running Out Of Money During Retirement

February 22, 2020 by Jim Poolman

In the past decade, quite a bit has changed. First, since the last recession, the country has seen a shift from employer-based retirement offerings, such as pensions, toward a more do-it-yourself approach. But, tools such as 401(k) plans don’t offer the same lifetime income guarantees as pensions. Moreover, in cases of part-time or temporary employment, retirement planning is often entirely in the hands of the employee.

Second, as a whole, Americans are living longer, which makes long-term financial planning even more important. Today, it’s not unreasonable to expect retirement will last a few decades, and such a long time without a consistent paycheck increases the risk of outliving savings.

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Originally Posted at Forbes on February 21, 2020 by Jim Poolman.