Resources
There is much more to variable lifetime income than the annuity contract itself. We’ve gathered resources from a variety of sources to help you explore the strategy and the research, ideas, evidence, and tradeoffs behind variable lifetime income.
Watch an introduction on annuities from Benny Goodman, FSA, MAAA, an actuary and lifetime-income specialist with TIAA, and try the Society of Actuaries Longevity Illustrator to explore the likelihood of living to different ages.
"Shifting wealth to annuitized income can increase spending ... by taking away the behavioral resistance to spending down a portfolio."
David Blanchett and Michael S. Finke, "Guaranteed Income: A License to Spend,"
The Basics
Benny Goodman, TIAA Institute
Actuaries Longetivity Illustrator (ALI)
An educational tool by the American Academy of Actuaries and the Society of Actuaries. The tables and graphs can be used to help you understand your potential retiree financial longevity risk.
How it works
With information you provide based on a few questions about your health, smoking habits, and demographic characteristics, the ALI will produce tables and graphs showing the likelihood that you (and your spouse/partner, if applicable) may live to certain ages. In addition, the ALI provides information on the number of future years that you might expect to live, as opposed to living to certain ages.
American Academy of Actuaries and Society of Actuaries, Actuaries Longevity Illustrator, www.longevityillustrator.org/.