But if you rollover 401k to IRA, you could use the IRA money to purchase an annuity and create guaranteed lifetime income by yourself.
A lifetime income guarantee offers two benefits most retirees need:
a) Protect you from market volatility - if your money is invested in stock market or even bond, in a market crash, both stocks and bonds could lose money;
b) Protect you from longevity risk - you don't have to worry about outliving your money.
The bottom line
It will be wise to allocate a portion of your IRA money to create a guaranteed lifetime income. Please contact us if you want to explore different annuity options.