Planning for retirement: Why you’ll need recurring income
For years, most people planning for retirement have heard about the wisdom of contributing to a 401(k) or similar plan. But as the financial crisis turned into a full-blown recession, everybody saw their investment accounts shrink. photo credit: nick farnhill Plans like the 401(k) let people contribute pre-tax dollars into an investment account that is expected to increase in value over time. But now the financial situation has gotten so bad that Time magazine’s Oct. 19 cover story says it’s…