Good news for millennials and Gen Xers who are terrified and worried they might not survive retirement: Fidelity, the country’s largest administrator of retirement accounts, recently announced the launch of its Guaranteed Income Direct platform, which allows investors to take a portion of their 401k or 403b savings and turn it into an annuity — a guaranteed and predictable monthly income after retirement .
Traditional 401k’s, Explained
Traditionally 401k savings are distributed in periodic lump sums. Investors would log into their investment portal and request a withdrawal from their 401k account. The amount requested would be transferred and the […]
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