Income Distribution Americans face a complex challenge: Millions of "baby boomers" are at or nearing retirement and face the dilemma of securing an income stream that lasts an entire lifetime. Their biggest fear is the fear of running out of money!
Most boomers parents and grandparents retired at 65 and lived to age 72, a seven-year concern. They also had social security and possibly a company pension. Today's retirees face the daunting task of planning for 25-35 years of retirement income with less social security, fewer company pensions, and expensive health care. Add to this, the potential for a nursing home stay, inflation, taxes, higher energy costs and you can understand the importance of proper retirement income planning.
Millions of Americans are transitioning from full-time work into retirement, they are moving from the accumulation phase - building wealth through savings and investments - to the distribution phase, drawing on those savings and investments for income they can rely on for the rest of their lives. This transition involves a major shift in financial tactics and planning to manage these high stake risks. |
