One financial challenge Baby Boomers face as they near retirement will be adequately converting their savings into income that can last through a retirement that may be over 30 years long. TIAA-CREF has published a new article, Systematic Withdrawals vs. Income Annuity Payments, which examines the possible advantages of life annuities as an alternative to systematic withdrawals from retirement savings accounts.
"Retirement requires a change in how people think about their money. Low cost annuities can, and in many situations, should, play a big part in generating and guaranteeing retirement income," said Maliz Beams, TIAA-CREF's Executive Vice President for Individual Client Services. "A low cost life annuity is often the clear choice for maximizing and guaranteeing retirement income."
You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 1 877 518-9161, or view a current prospectus that contains this and other information. Please read the prospectus carefully before investing. Investing in securities products involves risk, including possible loss of principal.
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Annuity products are issued by TIAA (Teachers Insurance and Annuity Association), New York, NY. Advice and Planning Services is a division of TIAA-CREF Individual & Institutional Services, LLC.
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