Income annuity puzzle: Why don’t more people use them?

Financial planner Michael Kitces thinks a hybrid income annuity/long-term care insurance policy could be the solution to a riddle economists have puzzled over for years. Economists have long argued that there’s a perfect financial product for retirement: the humble immediate income annuity. It’s a straightforward proposition: Fork over a big chunk of cash to an […]

Transforming your 401(k) into steady income

A job and a paycheck – they go together like coffee and cream. But when you retire from your regular job, does that mean you have to give up the cream? A growing number of 401(k) plans are including investment choices that can help savers convert nest eggs into retirement income. Participants can buy insurance […]