Article discusses the importance of immediate annuities--particularly in light of hedging longevity risk. Pros and cons of immediate annuities relative to other forms such as variable and indexed annuities are addressed. A solid article written by an attorney that is likely focused more on an advisor than a consumer audience.
"The retirement crisis facing our country for the next 15 years is profound. The Social Security system is under great pressure, lifetime pensions guaranteed by employers have virtually disappeared from the landscape and it is up to everyone to ensure that their funds last for their lives. Immediate payout annuities are the easiest way to ensure that you and your retirement funds expire at the same time. The alternative is not a comfortable one to contemplate."
Source: Morningstar
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