Keys to Lock In Lifetime Retirement Income

Guaranteed income for life, and the peace of mind that comes with it, is within reach. Here's how.

Most retirement plans blend hard work and diligent saving with a lot of what-ifs. What if the stock market doesn’t cooperate? What if we encounter massive unexpected expenses? What if all our calculations are wrong and our savings run dry mid retirement?

Wouldn’t it be nice to replace that element of chance with some solid guarantees? Imagine a stream of income, locked in for the rest of your life, that covers all your essential living expenses. That could allow you to take that bucket-list vacation without fear of derailing your retirement, greatly simplify your financial life in the event you face cognitive decline in your later years—and let you shrug off market dips like the one we saw in October. “Why should what you hear on the 6:30 news upset your retirement plan?” asks Jerry Golden, chief executive officer of retirement-planning firm Golden Retirement.

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Eleanor Laise
Senior Editor, Kiplinger's Retirement Report
Laise covers retirement issues ranging from income investing and pension plans to long-term care and estate planning. She joined Kiplinger in 2011 from the Wall Street Journal, where as a staff reporter she covered mutual funds, retirement plans and other personal finance topics. Laise was previously a senior writer at SmartMoney magazine. She started her journalism career at Bloomberg Personal Finance magazine and holds a BA in English from Columbia University.