New Government Report: Retirement Income: Challenges for Ensuring Income Throughout Retirement
Retirement Income: Challenges for Ensuring Income Throughout Retirement
By Charles Jeszeck (Paperback, 20 pages, 2010, $15)
As the life expectancy of Americans continues to increase, the risk that retirees will outlive their assets is a growing challenge. Today, couples both aged 62 have a 47% chance that at least one of them will live to their 90th birthday.
In addition to the risk of outliving ones’ assets, the sharp declines in financial markets and home equity during the last few years and the continued increase in health care costs have intensified workers’ concerns about having enough savings and how to best manage those savings in retirement.
This report examines: (1) options retirees have for drawing on financial assets to replace pre-retirement income and options retirees choose; and (2) how pensions, annuities and other retirement savings vehicles are regulated. Illustrations.