3/5/2015 – How to Make Your Retirement Income Last (U.S. News & World Report)

Mar 05, 2015 Comments Off by

Picture this: You’ve worked hard your entire life, saving diligently for retirement. At age 65, you were living the dream. At age 75, you enjoyed a comfortable, if not luxurious, lifestyle. But at age 85, you inexplicably have run out of money.

How did the ship sink so quickly? There was an iceberg, barely visible above the water but monstrous beneath the surface – the result of mismanaged distributions and ill-conceived budgeting. It probably doesn’t make you feel better, but you’re probably not alone in having hit that iceberg.

A nationwide survey of 1,000 adults, released last month from TIAA-CREF, shows that although a majority of Americans understand the importance of receiving guaranteed monthly income in retirement, 38 percent, have analyzed how their savings would translate into a regular “paycheck” in their golden years. Without a distribution plan that provides you with consistent income for as long as you need it, you run the risk of spending too much too soon and living out the rest of your life in the poor house – or worse, your children’s house.

Read the full article at U.S. News & World Report.

Financial Landing 2015

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