"Imagine sitting down on the day of your retirement to plan your financial future.  You know what your annual expenses have been and you want to maintain your current standard of living.  So, you consult a recent mortality table and find that if you've made it to your 65th birthday, you can expect to live to 85 years old.  You perform a little calculation and find that, together with your Social Security monthly payments, you have just enough savings to maintain your current standard of living and spend all of your savings and future expected earning by the time you die at the age of 85.  But, what if you live longer?  Will you be reduced to eking out an existence on Social Security alone?  Where will the additional money come from?  What if future investment returns are not what you anticipated at the start of your retirement?  These questions are increasingly urgent in America today, as forces are combing to make planning for outliving your resources more important than it has been in the past.  Old rules of thumb for spending your assets in retirement, call decumulation, need to be reconsidered"
 
So starts the "white paper" written by Wharton Financial Institution at The University of Pennsylvania.  It sure made me sit up and take notice.  Authors David F. Babbel and Craig B. Merrill outline the problems that retirees will encounter and one possible solution - annuitization. 
 
Please contact me at jmgilles@pressenter.com for your copy.  Please put Wharton White Paper in the subject line.

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