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The Financial Security Project was established in 2009 through a grant from the U.S. Social Security Administration. Our mission is to help people make smart decisions throughout their lives so they are financially secure at retirement.
1. Income distribution A top concern among retirees is running out of money, so it’s critical to take steps to make your money last. But how do you do that, especially now that the once-popular 4% rule is falling out of favor in some quarters? Dr. David Babbel, professor of finance at the Wharton School, puts it this way: “If you have a stock portfolio and withdraw a fixed amount per year, such as the standard rule of 4% plus inflation, you have a 90% chance of running out of money in retirement.” While it would be nice to think a magic-bullet investment exists that could fix this prob...
Text size The 401(k) revolution has turned millions of American workers into their own pension plan managers. Now, as a growing number of these workers retire, they must convert their investment portfolios into regular income. Enter whole life insurance. Whole life insurance has been derided for years because of high premiums and complexities. Buy cheaper term insurance and invest the rest, the conventional wisdom goes. But a number of academics say that whole life, a form of permanent life insurance that builds cash value, can buttress investment portfolios and even boost retirement i...