Longevity Annuity Scenarios

bob_and_patty.gif Bob and Patty. Bob is 63 and Patty is 58. Bob plans to retire in two years. Between Social Security, Bob’s pension, and their personal retirement nest egg of $1 million, they feel confident about retirement.
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gloria_and_james.gif Gloria and James.  Gloria and James are healthy 65-year olds who enjoy spending time with their two grandchildren, Michelle, age 10 and Damon, age 5.
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bob_and_patty.gif Joe. Joe is 60-years old, healthy and active. He plans to retire in five years.
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bob_and_patty.gif Sarah. Sarah is a 68-year-old widow who has been retired for two years. She is amazed at how quickly she is spending her savings. Social Security and her small pension aren’t stretching as far as she hoped, which is a problem because she expects to live a long life (her parents are still alive in their 90s).
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