A great, quick read appeared in the Wall Street Journal today covering the “risk” of living too long.
Since many people are living beyond age 85 these days, it makes sense to consider planning for retirement income specifically for later years. And there are new products on the market that can help you “make that bet.” as you might imagine, these products are insurance products and as is often the case, they involve you making a bet with the insurance company – if you live you win, if you die, your estate loses.
however, planning for “longevity risk” is not the time to become hissy or defiant about “losing” some money to an insurance company. If you have the resources, and need to plan for long life, consider various ways to accomplish your goal and strive for security and certainty in your future income.
read the article HERE.