https://retirementplanningscottsdale.com/ Anil Vazirani asks: ” How are you Protecting Your Nest Egg?”
When Retirees cash in their 401(k)’s they now have a large lump sum of money to protect. This presents a different situation than dealing with a monthly pension payment as they must figure out how to manage that money to make it last for the rest of their lives.
Since people are living longer, figuring out how to spend this money can be a problem for retirees, they said. And managing finances is a problem that gets worse as retirees age and begin to experience cognitive decline.
One solution now available to generate lifetime income from your nest egg is an annuity that pays a lifetime income.
Detail per an article in Financial Advisor Magazine:
https://www.fa-mag.com/news/having-a-large-sum-of-money-to-deal-with-is-good–but-difficult-36134.html?section=93
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