Tag: 401k
The brief’s key findings are: Households now retiring need to transform their 401(k) and IRA savings into retirement income. One way is to delay claiming Social Security to increase their monthly benefit, using savings to pay current expenses while they wait. In effect, they are buying an annuity from Social Security: The savings used is the “price” and the increas…
The biggest challenge facing participants in 401(k) plans will be figuring out how to draw down their balances in retirement. Retirees have to decide how much to take out each year. If they take out too much, they risk running out of money; if they take out too little, they risk not covering basic needs…
