U.S. life expectancy is still rising, and for those who take good care of their health, living well into their late '80s or beyond is becoming the norm. People who retire in their 60s are now planning for a retirement that will last into their 80s or 90s. That’s a comforting feeling – but not if you run out of money in your 70s or 80s!
A lot of workers haven't put away enough in retirement savings to maintain their current lifestyle, forcing them to face a rude awakening after they retire. And unless they'll be receiving significant benefits from a traditional pension plan, which most people don’t have, the management of their retirement savings is crucial to avoid outliving it.
Unfortunately, some people simply act without preparation or guidelines when it comes to retirement planning and drawing down their savings. The