Tag: deferred annuities
You probably won’t get your money back, but the guarantee of money for life is really valuable. As Americans retire with 401(k) balances as their only supplement to Social Security, the question is how they should draw down their accumulated assets. Lots of rules of thumb are available – some better than others. But t…
Abstract Unlike defined benefit pensions that provide participants with steady benefits for as long as they live, 401(k) plans and Individual Retirement Accounts (IRAs) provide little guidance on how to turn accumulated assets into income. As a result, retirees have to decide how much to withdraw each year and face the risk of either spending…