I’ve been pretty critical of many annuities in the past, but there is one out there that might be worth a serious look. It’s called a Qualified Longevity Annuity Contract (QLAC) — yes, that’s a mouthful. Recent technical changes to this annuity OK’d by the U.S. Treasury offer a partial solution to the not-outliving-your-money challenge.
Americans are way short in their retirement savings, and President Obama's MyRA plan, which he unveiled last week, isn't the only new proposal that aims to help with that problem.
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