Are you meticulously saving for retirement but terrified of actually spending that money once you get there? You aren’t alone. Senior Editor Maggie McGrath sits down with personal finance journalist, founder, and author Jean Chatzky to discuss her new book, The Forever Paycheck.
Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1
Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:
Stay Connected
Forbes newsletters: https://newsletters.editorial.forbes.com
Forbes on Facebook: http://fb.com/forbes
Forbes Video on Twitter: http://www.twitter.com/forbes
Forbes Video on Instagram: http://instagram.com/forbes
More From Forbes: http://forbes.com
Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.
Forbes highlights success through the lens of business, entrepreneurship, wealth, investing and leadership…Watch on SloppBoxx.Com.
Annuities are always having to say your sorry
Just remember , you may need some bucks for long term care and that is not cheap.
Most people don’t pay attention early enough to demographics and trends regarding aging and money. Next…Fear of outliving your income and the fact that once it’s gone, it’s gone! Fear of pain, with no response to control. Most important, people don’t feel they’re in control…fear of the unknowns. Financial freedom is confidence in being able to live within your means!
People ready for retirement need to focus on investment income, not growth. This will allow you to live well AND not spend your nest egg.
Annuities that provide “some of the upside of the market,” also known as variable annuities, are riddled with hidden fees and pretty much never a good investment. Fixed annuities, whether immediate or deferred, are straight-forward, and can provide “a paycheck,” but you don’t get your initial investment back, so if leaving money to your heirs is important to you, they are not a good option. More importantly, I don’t believe there is a single company that offers inflation adjustments on an annuity, so the paycheck you are buying with a fixed annuity may look good now, but not come anywhere near to covering your expenses later. It was irresponsible that these drawbacks were not mentioned in the video, particularly the inflation risk with annuities.
I so love how the way you use your personal massager…over gushing is disgusting!
It’s not how much you make, it’s how much you spend…As a 40yr RE broker, never ceases to amaze me, how financial illiterate the general populous is…thank the liberal teachers for not seeing that the basics of life and sustainability were not pounded in the children’s minds!