Making Your Money Last: Retirement Income Planning

Retirement is no longer the simple idea it once was. In the early 20th century, the industrial economy created pensions as a way to move older workers out of physically demanding jobs. Workers joined a company, stayed for an entire career, retired with a pension and died relatively soon afterward. That world is largely gone.

Today, most workers don’t have traditional pensions. They have 401(k) plans, IRAs and Social Security – and the responsibility for making those assets last falls entirely on them. That responsibility has never been greater, because the retirement period itself has never been longer.