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Hi everyone,
I’ve lurked for a while on this board, even before I started grad school. Now I’m a grad student in financial planning and I’m writing a paper that discusses SWR, among other things. I have a question that I’m hoping people here could shed some light on.
Discussions of SWR seem to focus on investments, not insurance products like annuities. In other words, discussion focuses on what % of one’s investment portfolio one can safely withdraw each year. My background is squarely in investments, as opposed to insurance, so an investment-focused SWR discussion makes sense to me. However, the insurance industry spends a lot of time and money marketing products like annuities as a guaranteed way not to outlive your money. As an investment person, I admit I tend to be skeptical of the insurance industry (suspicious that the fees outweigh the benefits). As a future financial planner, though, I at least need to educate myself more about insurance, regardless of how often I ultimately recommend it once I understand it better.
My question is: Do you think it is desirable to use insurance products to meet some or all of one’s retirement income needs? Why or why not?
Thank you for any discussion this generates. I’ll check back regularly and respond to any posts.
Best, Leonard
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