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Living without a steady paycheck : Some retirees embrace annuity strategy

Nov 19, 2018 - Chicago Tribune

Once you give up the security of a steady paycheck, you're exposed to a host of uncertainties: interest rate moves, stock market corrections and tax changes, to name a few.

To hedge against things that are out of my control, I've elected to wait till age 70 to collect Social Security benefits as well as to take my pension as an annuity rather than a lump sum, both of which will maximize my regular income.

The latter is a popular strategy among Kiplinger's readers. "I totally underest...