How long will you live and how's your cash flow?

The Annuity Man

Great article by Mike Causey from the Federal News Network that address life expectancy and the cash flow you will need to live the life you desire.  I call this needed cash flow the "income floor" that covers your basic monthly costs.

Even though Mike's article is geared toward Federal workers, the gist of what he is talking about applies to every single American.  What he is preaching is pretty basic, but not followed by enough people.  You have to plan to have a sustainable guaranteed income stream that you will never outlive.  That "income floor" has to be in place to live the lifestyle you desire in retirement.

Mike's opening paragraph pretty much says it all, "For many people nearing retirement, running out of money is one of the top fears.  Unless they work for the federal government.  With the Federal Employees Retirement System annuity, Social Security and cost of living adjustments the fear of running out of money is not a major worry for federal and postal workers. But does your retirement plan include maybe 20 or 30 years of doing things, needing things, without that regular paycheck every two weeks?"

If you click the link in the first paragraph above (Mike's name), it will not only take you to the article, but a recorded podcast as well.  That's a "2 for 1'er" of good information.

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