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The financial planning most baby boomers did 5 to 10 years ago no longer makes sense today since the average 65 year old can expect to live to almost 85 vs. a life expectancy of 78.5 in 2007 (CDC Aug '10). And, for those that aren't at retirement yet, you're not off the hook. The 65 year old plus population is expected to grow from 40M today to 71M or 20% of the population in 2030 (US Census Bureau June '09). Given the uncertainty in the markets and the increasing life expectancy, how can seniors better protect their retirement funds? There may be one product that could be helpful but it does come with risks. .
