This week’s article is worth reading as it discusses the tendency to focus on the “number” at the bottom of our personal balance sheets, rather than ensuring that a retirement portfolio can generate enough steady money for as long as we live. The article goes on to say that “getting people to start thinking about their retirement in an income stream instead of a lump sum is a big problem.” The reason may be what researchers call the “phenomenon of present bias” where, for example, half a million dollars today sounds a lot better than say $2,500 a month for the rest of your life, even though the $2,500 a month may be what you’ll need more. Call us if you’d like to discuss what options for a steady income stream may be available for you. We’re always here to help.
Click Here to Read Full Article