Episode 396: This Small Trick Could Increase Your Retirement Income by 22%

A recent landmark study from BlackRock caught David McKnight – he shares what it was all about and why you should care in this new episode of the Power of Zero Show. For decades, Americans were told that if they simply contributed faithfully to their 401(k) and avoided emotional decisions during market downturns, they would have enough money in retirement. According to the BlackRock study, retirees who incorporated guaranteed lifetime income in the form of an annuity into their retirement portfolio experienced an average increase of 22% in potential retirement spending. That number became approximately a 25% increase for lower income retirees! The increase came primarily from giving retirees greater confidence to spend money because a portion of their retirement income was guaranteed for life. David explains that, while 30 or 40 years ago retirees could rely on company pensions that provided predictable monthly income for life, the modern retirement system has shifted enormous responsi...