Submitted by tom on
A recent article published by ABC News discusses the advantages of building your own annuity by using "technical computer models" to "engineer portfolios" with "a variety of bonds and stocks with the aim of allowing retirees to get the income they need in the short run while protecting their assets in the long run."
Huh???
Here is some objective information that sheds light on why it makes zero sense to attempt to build your own annuity: http://fic.wharton.upenn.edu/fic/Policy%20page/WhartonEssay18.pdf
According to the authors, the homemade strategy "would be nice, but it is fantasy" (see page 9 of the paper).
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