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Don't Outlive Your Money
Most people are more afraid of running out of money than dying!!
Worried about outliving your assets? 
You might consider holding off on tapping into Social Security benefits, working longer and... 
buying an annuity! 






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Experts recommend that retirees balance the draw-down of savings and use of guaranteed lifetime income annuities.
A guaranteed lifetime annuity avoids the risk of retirees outliving their money in retirement. An annuity can help protect the retiree against the risk of underperforming investments and the risk of outliving one's assets (longevity risk). Annuities provide lifetime income to help retirees to avoid overspending their assets.   Although most retirees tap their financial assets gradually, some exhaust their resources and many, particularly those in the oldest age group, live in poverty.

As the life expectancy of U.S. residents continues to increase, the risk that retirees will outlive their assets is a growing challenge. Today, a married couple both aged 65 have a nearly 50% chance that at least one of them will live to age 90 and 20% chance of living to age 95. In addition to the very real risk of outliving one's assets, the sharp decline in financial markets and home equity in the past few years and continued sharp increases in healthcare costs have intensified concerns about having enough money in retirement.

Apart from whether retirees outlive their assets, millions of retirees live in poverty later in life.   Even with the widespread availability of Social Security, Medicare, and Medicaid benefits, in 2009 an estimated 3.4 million seniors aged 65 or older lived in poverty. Poverty among elderly women aged 75 or older is much greater than men.

In addition, the switch from employer-sponsored pension plans to other types of plans such as 401k and other similar types of plans puts more financial responsibility on workers to manage their own pensions and other financial assets to last throughout their retirement. Workers are increasingly responsible for investing and assuming investment risks themselves.
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Forbes Magazine, Personal Finance - 2011
Money Magazine - Nov. 12, 2014
GAO - U.S. Government Accountability Office - June 7, 2011
GAO - 11-400 Retirement Income
GAO - 11-400 Retirement Income
GAO - 11-400 Retirement Income
GAO - 11-400 Retirement Income
GAO - 11-400 Retirement Income
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Copyright 2015 - Senior Resources WA 
- According to a study from the Government Accountability Office