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January 23, 2007


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The best way to "ensure income for life during retirement" is to ensure income for life irrespective of "retirement". The very notion of "retirement" makes several bogus assumptions about the proper relationship between work, money, and life...starting with the idea that the One True Way To Live is to work yourself to the bone, praying that you don't get too sick to keep doing it until the magic age of 62-65 when you quit doing it and start praying that you die before all the money runs out.

Much better, IMHO, to focus (when one is young enough to have time to build up momentum) on ways of earning money that don't require showing up at a job every day, and hence don't require stopping when one is old or ill.

If a person wants to live in the former manner...well hell, it's a free country. But I'm not about to go about reccomending it.

Purchasing an immediate annuity may not be the best way to go. Annuities have a much higher expense fee than mutual funds, index funds and eft funds. I would recommend trying to find another alternative than an insurance product.

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