How to Make a (Measly) $1 Million Retirement Nest Egg Last

People planning decades of retirement based on $1 million in savings need to recognize that amount is not nearly as valuable as it once was, experts say. Check out this article from The New York Times discussing the benefits that a single-premium immediate annuity and other fixed income products can  have in helping you save for retirement.  For example, a $1 million New York Life annuity bought by a 66-year-old man, with payments starting immediately, known as a single-premium immediate annuity, would pay $65,666 a year — far more than a 4 percent withdrawal from a $1 million pot.

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