New Mutual Funds Offer Income Stream.
Kiplinger's Retirement Report, November, 2007
ABIG CHALLENGE for retirees is figuring out how to tap their nest eggs. Spend too quickly and your money can run out. Pinch pennies and you could die with a bundle in the bank--a potential blunder if you suffer needless financial pain along the way.
Fixed-income annuities have long offered the solution to the running-out-of-money worry by guaranteeing payments for life. Now the mutual fund industry is launching a new breed of funds that offers investors a stream of monthly payments.
Fidelity Investments has introduced 11 Income Replacement funds with horizon dates from 2016 to 2036. You'll get monthly checks from the time you invest until the horizon date, when your investment will be depleted. If you die before the horizon date, your heirs will get...
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