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Episode 3318:

Darrow Kirkpatrick unpacks the real distinction in retirement income strategies, not between risk and safety, but between who manages the risk, you or an insurance company. He argues for a flexible, hybrid approach that evolves over time, matching both your temperament and life circumstances, rather than locking into an all-or-nothing decision early on.

Read along with the original article(s) here: https://www.caniretireyet.com/are-you-feeling-lucky-the-two-schools-of-retirement-income/

Quotes to ponder:

“‘Probability-based’ and ‘safety-first’ label the extremes in retirement planning.”

“The real distinction is whether (market and longevity) risk is transferred or retained, and if retained how those risks are managed or avoided.”

“Once you buy an annuity, you own that decision for life.”

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