Deferred income annuities are a hedge against running out of money

05/14/2014 | InvestmentNews (free registration)

The risk of being hit by a market downturn early in retirement and running out of money can be hedged by deferred income annuities, sometimes called longevity insurance, said Mark Cortazzo, senior partner at the MACRO Consulting Group. The annuity acts as a buffer for a retiree who suffers a financial setback but is too old to go back to work, he said.

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