What is the biggest threat to retirement funds? It is ourselves, according to some recent articles on the subject. With many retirement age individuals not prepared for the possibility of failing cognitive abilities and being taken advantage of by individuals seeking to defraud and trick them out of their funds, they are left with nothing to use during retirement or pass on to family members. One suggested solution is a life income annuity, which cannot be taken advantage of by hustlers and will provide a steady income throughout retirement.
See Jeffrey Brown, Use Annuities to Protect Yourself from Yourself, Forbes, May 22, 2014.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
