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For Your Information Retirement planning: How not to outlive your money

Retirement planning: How not to outlive your money

Shortly after my great-uncle and great-aunt retired, they came up with what seemed like a foolproof plan.

They would take the modest pension that my Uncle Jim had accumulated since emigrating from Scotland, sell their house, and say goodbye to brutal Lake Erie winters forever. As my Aunt Mary told my parents, they intended to spend “the last few years we have left” enjoying the sun and heat of Florida.

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