Could you outlive your money? Millions of American workers who are heading for the exit door of their careers may face that risk as companies phase out their costly check-a-month pension plans and the stock market continues to put serious cracks in people's 401(k) nest eggs.
Such concerns have begun to focus more attention on an obscure insurance product called an immediate fixed annuity. And the attention is more flattering than in the past. Scorned for their modest returns while the bull market roared, these annuities are suddenly gaining some respect for the security they offer. The deal: for a...
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