Tools to safeguard your retirement income

The need for lifetime income is huge and growing as life expectancies continue to increase and traditional sources of guaranteed income disappear. For a couple of 65-year-olds, there's a 25 percent chance that one spouse will live until 97, yet fewer people are retiring with pensions and Social Security covers only a small portion of most people's expenses. Many retirees who had planned to fill the income gap with their savings are wondering where to turn after suffering through two severe market downturns in a decade. An annuity may be the answer, but not all annuities are alike, and some may not be appropriate for you...

WaPo: Tools to safeguard your retirement income