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Why converting 401(k) to annuities requires new mindset
Are we hard-wired to shun certain retirement investments? Some new research suggests so, and that has implications as the government gives the green light to annuities in 401(k)s and IRAs. In a research brief for the Center for Retirement Research at Boston College, professor Jeffrey Brown of University of Illinois notes that more than half of pensioners elect to keep their monthly payout rather than convert to a lump sum, but very few 401(k) owners elect to turn their balances into annuities. Read more…
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