How to Manage the Retirement Risk of Outliving Your Money

Longevity means living a long life, but it also increases the chance of running out of adequate resources, according to a report recently published by the Society of Actuaries (SOA).

Retirement planning requires having assets and a flow of income to last through retirement, according to the report.

In an interview, Anna Rappaport, a co-author of the report and a member of the SOA’s Committee on Post-Retirement Needs and Risks, discussed the risk of longevity and the ways to manage it.

“The risk means living a long life and, and basically not having enough money to pay for that long life,” said Rappaport. “Retirement planning requires having assets that will last to the longest of, in a couple, the second person to die.”

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