How to Prevent Outliving your Retirement Savings- Part 3
Posted: 08.18.2011 at 1:15 PM
Photo
Retirees should systematically draw down their savings and convert a portion of their savings to an income annuity to cover necessary expenses.  If you have the option of getting annuity payments from a traditional pension plan, experts suggest opting for that over a lump-sum withdrawal.  The experts also recommended delaying Social Security retirement benefits until reaching full-retirement age, and if possible, continuing to work and save.