FYI: Fewer than 1 in 5 workers report they’re “very confident” their retirement income will enable them to actually live comfortably. So, in recent years, the financial service industry has rolled out a variety of “nudges” designed to encourage people to save more for retirement.
Yet there are few nudges in place to help people as they graduate from saving to figuring out how to convert their nest egg into a reliable income stream in retirement. The conversion of savings into retirement income is a problem known as “decumulation.” The choices around decumulation are often complex, clouded by behavioral biases and the urgings of those selling financial products, so policymakers are newly focused on how to help older Americans make smarter decumulation decisions.
Regards,
Ted
http://www.anderson.ucla.edu/faculty-and-research/anderson-review/decumulation-decisions
