Lump sum or annuity payments? It's no easy decision for retirees
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USA TODAY’s retirement columnist Rodney Brooks talks to Jeanne Thompson, a vice president at Fidelity about saving aggressively for retirement.
There's a reason roughly 40 percent of Americans say they have less than $1,000 or so in liquid savings: Many people spend whatever money is available. When a windfall comes their way — in the form of lottery winnings, tax refunds or retirement-plan payouts — there's a temptation to use it to pay down debts, go on vacations or give money to kids.
Those aren't necessarily bad choices, but they can mean assets get... read more
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