We’re all human meaning we all forget things.  We forget someone’s name … we forget our email password … we forget old 401(k) accounts.  Wait … what?  Do people really forget about something as big as a retirement account?  You bet they do.  In fact, Market Watch says there are currently 24 million “forgotten” 401(k) accounts!  And collectively, those accounts hold 1-point-3 trillion dollars in assets!  I’m guessing that’s not good?

There’s a term that occasionally pops up in the financial media … “lifetime income.”  Market Watch cited a survey in which one-in-three people believed they could get lifetime income from a mutual fund.  And one-in-five thought it comes from a target date fund.  John explains if there is such a thing as lifetime income and if there is, how does it work?