U.S. News & World Report – Include Longevity Planning in Your Retirement Strategy
The following are excerpts from a U.S. News & World Report story titled, “Include Longevity Planning in Your Retirement Strategy,” by Rebecca Lake. AnnuityAdvantage CEO and Founder, Ken Nuss, is quoted in the article.
“As people are living longer than ever before, it’s essential that they plan on their money lasting longer as well.
Average life expectancy for men and women in the U.S. has reached the mid-80s and the Social Security Administration estimates that one in four 65-year-olds will live into their 90s. Living longer means having more time to do the things you enjoy in retirement but there’s something else to think about – how you make your savings stretch.
As your time horizon for retirement increases, it may be necessary to look at your investing strategy through a different lens. Longevity planning offers a solution. Creating your longevity plan begin with assessing your current financial situation and your future retirement needs.
Ken Nuss, CEO of AnnuityAdvantage, points to annuities as a means of stabilizing your income base in the face of increasing life expectancies.
“Annuity contracts are the only financial instrument which can guarantee lifetime income, no matter how long you live,” Nuss says.
Deferred income annuities allow you to make an investment today with guaranteed lifetime income starting at a later date. Nuss says that depending on the length of the deferral period, these types of annuities may pay out more income than other investment options.”
Longevity planning is a multi-faceted topic, so be sure to check out this link to the full article: Include Longevity Planning in Your Retirement Strategy