Guaranteeing Retirement Income

The evolution of our adult lives involves working for about forty years (say from ages 25 to 65) and then retiring for twenty-five more (from age 65 to 90). Accumulating a pot of money for the twenty-five retirement years in the forty-some working years depends on your success in saving and investing and possibly being a member of a company pension plan. Because of increased life expectancy, the retirement years are much longer than they used to be. The financial outcome in retirement...