Financial planners are assiduously courting seniors whose wealth is large enough to generate attractive fees for the planner who gets to manage it but not large enough to eliminate the possibility the senior will run out of money. A favorite planning tactic is to calculate an annual asset liquidation plan that is consistent with a target probability of running out — 3 percent and 4 percent are numbers I have seen.
This wire news service story is no longer available.
However a copy might still be available at www.mtgprofessor.com