On this week’s edition of The Lifetime Income Series Jim and Cathlyn clarify the confusing “alphabet soup” of retirement plans, starting with the myRA account, introduced by President Obama in his State of the Union address. They explain the basics of the plan and some of the pros and cons of the myRA. They also look at a case study of Abby and Eric Major to illustrate the differences among some of the plans, and how to identify which plan might be best, depending on the circumstances. The guest this week is Cindy Hounsell, President of WISER, the Women’s Institute for a Secure Retirement. Cathlyn and Cindy discuss some key financial issues that particularly affect women.
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