Most people aren't prepared to live a long time or know how to cope with the uncertainty regarding the lengths of their lives, something the experts call "longevity risk." This post wraps up a series of three posts that addressed a pending retirement crisis caused in part by a failure to understand and prepare for longevity risk.  

While there's a clear trend toward passive investing -- every year since 2006, passively managed funds have seen net inflows, while actively managed funds have seen net outflows -- about three-quarters of individual investor assets are still in actively managed funds. Investors in actively managed funds are unaware of the vast body of research showing that, on average, actively managed equity mutual funds underperform their respective benchmarks. For more details, read this insightful post from fellow CBS MoneyWatch blogger Larry Swedroe.

If you're in the market for a financial advisor, you may hear potential candidates tell you, "I will act as a fiduciary on your behalf." While that sounds reassuring, do you know what this designation actually means? Read here to learn about two different standards for financial advisors. Then check out my next post that describes the protections that are offered by a fiduciary. These posts will help you understand how to select a financial advisor who has your best interests at heart.

Americans aren't saving enough -- that means it's up to you to take tough but essential steps to secure your future. Read here for some practical tips on getting your retirement on track.

"Getting old sucks!" I heard this lament the other night from a seventy-something friend at dinner. An Internet search on this phrase brings up pages of links, so clearly this colorful expression is on the minds of many baby boomers as they get older. If this thought has ever crossed your mind, read on for some helpful stories and tips for coping with aging.

Retirement can be as much about your attitude and state of mind as how much money you've saved. Read here for an entertaining word tour of the possibilities for your retirement.

 Money for Life

Turn Your IRA and 401(k) Into a Lifetime Retirement Paycheck

My latest book, published in October 2012, answers two of the most important financial questions you'll ever face:

How much money do you need to retire?

How can you generate reliable income from your retirement savings that lasts for the rest of your life, no matter how long you live and no matter what happens in the economy?

Addressing these questions is one of the most critical challenges facing the retirement industry today. 

Money for Life is an easy-to-read, easy-to-understand book that outlines specific action steps and includes illustrations and graphs to reinforce the main points. It describes in simple terms the three methods you can use to generate a "retirement paycheck" from your retirement savings. It explains the pros and cons of these methods, as well as their many varieties and permutations. One critical element is the amount of the retirement paycheck you'll be able to generate, which can vary widely depending on the method you choose to generate retirement income.

This new book is available in both print and e-book format.  It complements my other published works on retirement planning -- my book, Recession-Proof Your Retirement Years; my DVD, The Quest for Long Life, Health and Prosperity; and my retirement planning website, Money for Life.