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Will living five more years really deplete your savings?
With retirees living well into their 90s and beyond, millions face a growing risk of outliving their savings. Recent research by Nationwide and The American College of Financial Services found an “extra five years increases the risk of running out of money by more than 300 percent.” In their press release, Nationwide said, “Retirement planning needs a major reset for consumers and advisors, prioritizing longevity risk.” Brian Anderson, reporting for the 401K Specialist, reviews the consequences of underestimating how long you will live on your retirement savings. Read Mr. Anderson’s article here…
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