Here’s an easy, low-cost way to build a retirement plan like the pros


Saving for retirement can be hard. Planning how to spend that nest egg — while ensuring the money doesn’t run out — is harder.

But there’s good news: Americans can build a simple, low-cost retirement plan using just Social Security and savings, according to experts.

From an academic standpoint, the “optimal” retirement strategy combines two concepts, said Wade Pfau, a professor of retirement income at The American College of Financial Services.

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On one hand, retirees set up a “floor” of income using guaranteed payments like…


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