Lifetime Income Is Possible (And Necessary)
When 401(k) programs began replacing traditional pension plans in the early 1990s, the masses thought it was a great idea. After all, employees got to manage their own money. The 1990s rocked when it came to returns. Workers thought that 10 percent annual returns would continue for life. This sure beat the pants off the old pension plans, which locked them into a fixed income for life.
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