We all want to live long, healthy lives.
Be careful what you wish for!
What if you run out of money?
Your “long, healthy life” won’t be much fun.
You can protect against this risk.
A competent advisor will tell you about the benefits of a “deferred income annuity.”
Consider it if you are a reasonably healthy person or couple in your early 70s.
These deferred income annuities (sometimes called “longevity annuities”) will provide you, or you and your spouse, with guaranteed income for the rest of your lives, starting at a date you select.
Unlike life insurance, this is insurance you hope to collect.
For a very long time.