The Morbid Predecessor to Social Security

The infamous predecessor to Social Security and pensions could make a comeback and benefit the current retirement systems. Tontines, a sort of death pact mixed with an annuity, could be the next big thing in the retirement game. Tontines were once so common that half the households in America were involved in one, they funded government projects and construction, and were even proposed as a way to pay off the Revolutionary War. They have since been outlawed for moral and ethical reasons, but they may be the inspiration for the future of pensions and retirement plans. The way they are set up would allow investors to buy in to an annuity that would increase over the course of their retirement, when an investor passes their annuity is the split between the rest of the investors in their group. Jeff Guo explains more in an article in the Washington Post.


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