The problem with opt-in annuities is that the seller charges a boatload to account for the risk of your longevity. I guess you would advise buying an annuity and stock in the annuity seller?
My chief complaint about semi-forced annuity purchases is that those that opt-out and retire without savings get back-stopped by the state anyway.
I tell everyone to figure out how much they need to live and put just enough in an annuity to give you that (rent, heat, food, insurance). The rest of your 401k (if anything!) is fun money.
Don't forget that you should have long term care insurance that covers a good nursing home (get this as soon as you retire when it is still cheap because odds are you will never need it).
With this plan you can outlive your savings and still have an okay life.
Just because something is regulated doesn’t mean it’s safe and definitely doesn’t mean it’s guaranteed. For example, US social security funds are solvent until 2035 according to our own government accounting[1].
It's not like it will disappear after 2035. Some adjustments have to be made like probably raising the retirement age but that doesn't mean that the system doesn't work.
