The best way to get retirement income from IRAs and 401(k)s could be a combination of immediate annuities and managed payouts, writes Steve Vernon, a retirement program consultant. Annuities guarantee income for life and are relatively easy to use, Vernon writes. Managed payouts give investors access to their savings in emergencies and offer the chance to increase retirement income if the investment gets better-than-expected returns.

Full Story:
CBS MoneyWatch

Related Summaries