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Kiplinger
Kiplinger
Business
Jerry Golden, Investment Adviser Representative

EXPLAINED: For longevity protection consider a qlac | Vintage Vibes

An older couple hold hands as they walk along the beach at sunset.

Please consider two new terms you should know in retirement:

  • Longevity protection. The steps you can take to ensure that the money you thoughtfully saved and carefully grew during your working years doesn’t run out before you do, no matter how long you live.
  • Qualifying longevity annuity contract. Commonly called a QLAC, this type of deferred income annuity funded out of your rollover IRA account provides guaranteed lifetime income starting at an age you select but no later than 85.
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