A new study has found that a fear of contemplating their own death could cause people to prefer other retirement products over annuities.
What keeps people from making certain decisions about their retirement savings?
A new study has concluded that a resistance to contemplating their own death is one likely cause.
For the research, the team from Boston College in Massachusetts focused on annuities whose lack of popularity has long puzzled experts despite the fact that they provide income payouts during the retirement years.
In one test, participants were asked to imagine that they were in the early stages of retirement; 40 percent of the group that discussed annuities reportedly thought about death versus just 1 percent of those who talked about IRAs.
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