LLBUS 159 - Spend Now and Spend Later: How to Ensure Your Retirement Savings Last Your Lifetime

If you're like many baby boomers, you have been saving for a long time and are looking forward to the day you retire. When that day comes, your financial planning strategy will change from accumulating assets to withdrawing them for retirement income. But how do you know if you have accumulated enough? How should you withdraw the money? How much money can you safely withdraw every year? What can you do to reduce the risk of running out of money if you live longer than you've planned for? Are annuities appropriate for retirement? What about reverse mortgages? We'll explore the answers to these questions and others as we challenge you to throw away some preconceived notions and think outside the box. We suggest you take this class in conjunction with 'Health Care in Retirement' (LLBUS 160.)