As members of the baby boom generation head into retirement, they face an economic environment that has changed noticeably since their parents retired. Most of these new retirees will not be equipped, as many in the earlier generation were, with private pension plans, early retirement options, and fully paid retiree health benefits in addition to Social Security and Medicare. Today it is increasingly left to retirees themselves to plan how to maximize retirement income and minimize risk. In Retirement Income, Mark Warshawsky and his colleagues describe strategies, products, and public policies that will help a new generation achieve financial security and income growth in retirement.

Warshawsky, a noted expert in the field who has worked in both government and private industry, analyzes two insurance vehicles, life annuities and long-term care insurance, and their capacity to protect against the extra costs arising from longevity and disability. He proposes two innovations. The first is a strategy that includes a set percentage withdrawal from a balanced portfolio, which is gradually used to purchase a ladder of life annuities. The second proposal, which includes a description of the potential choices in product design and available tax characteristics, is a product that integrates the immediate life annuity and long-term care insurance.

With Retirement Income, Warshawsky offers practical ideas based on the results of empirical investigations and analyses, which can be applied to household decision making by retirees and their financial planners and to the design of insurance products and public policy.

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July 21st, 2017

Posted In: Income Strategies

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2 Comments

  • JJohnstone says:

    Complex Book on Using Laddered Annuities & Mutual Funds This is a complex book on using laddered annuities and mutual funds to create a very low risk retirement income.It’s really more of an academic text than a general public explanation, but the stuff is there if you can wade through it.Principally it’s about allocating a portion of your retirement account to immediate fixed income annuities and a portion to a mix of mutual funds to create an income stream protected against inflation and stock market risk. The book explains…

  • Farmer Phil from Billygoat Hill says:

    Well worth reading. Find a quiet nook and bring your highlighter.

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