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Episode 3169:
Jeff Rose explains how longevity insurance can safeguard retirees against outliving their savings by providing guaranteed lifetime income. By delaying payouts, these plans maximize future payments, offering a low-risk, hands-off strategy to complement traditional investments, though not without trade-offs like lower returns and upfront costs. A strategic mix of longevity insurance and market investments can create a more secure and balanced retirement income plan.
Read along with the original article(s) here: https://www.goodfinancialcents.com/longevity-insurance/
Quotes to ponder:
"You’ll need to stretch your savings over a longer period of time which can be very hard to budget."
"Longevity insurance makes sure you always have some income during retirement."
"The big advantage of longevity insurance is that it guarantees your income for life."
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