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Most Retirees and Near Retirees "Consumed by Fear"

A recent article in Bloomberg discusses the financial challenges faced by most retirees in the United States and the steps that the Obama Administration is taking to address the crisis. The demise of defined benefit pension plans over the past thirty years correlates almost perfectly with the rise of defined contribution plans such as 401ks.

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Annuity

Annuitization

Compulsory Annuitization

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Glossary:

Annuity

Annuitization

Compulsory Annuitization

Defined Contribution Plan

Key Phrases:

First Lose No Money

Is there a financial equivalent to the maxim “first do no harm?”

What if one of the guiding principles of medicine was applied to the world of financial advice?

What would the financial services landscape look like if product manufacturers and advisors were required to play by rules similar to those that exist for physicians?

First, my guess is that the financial corollary to the application of primum non nocere (first do no harm) would be:

First do not lose money.

I have had countless conversations over the past year or so with people who cannot believe they are actually paying to hear someone tell them that they are in relatively good shape because their portfolio has outperformed some index by fifty basis points. ...

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Should I invest in a variable annuity?

Thanks for reaching-out.

It is generally very difficult if not impossible to provide a simple yes/no answer to this type of question without having much more detail regarding your situation and needs. That said, here are some things to think about:

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Annuities Information

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TIAA-CREF

The Cost of Healthcare

Submitted by tom on Mon, 03/08/2010 - 16:25

Bloomberg Business Week has been producing some extraordinary healthcare-related articles recently.

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Annuities and Other Forms of Guaranteed Income are Priorities for the Obama Administration

Much has been written over the past couple of weeks about the Obama Administration's support of annuities.

The New York Times ran a story about the "unloved annuity getting a hug from Obama."

Bloomberg featured an article in its personal finance section describing the potential, the pitfalls and the overall industry enthusiasm surrounding in-plan annuities.

The federal government has posted a...

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