How to Build a 'Forever Paycheck' Without Buying an Annuity
Jean Chatzky's new book outlines strategies for generating steady retirement income without the cost of an annuity.
Retirement income doesn't have to come from an insurance company. Jean Chatzky's new book makes that case loud and clear, offering strategies for building what she calls a "forever paycheck" — reliable cash flow in retirement that doesn't require handing your money over to an annuity provider and paying their fees.
The core idea is simple: you can engineer your own steady income stream using the assets you already have. Think dividend-paying stocks, bond ladders, and systematic withdrawal plans from your portfolio. These tools put you in control instead of locking you into a contract that may not flex when your life does.
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For retail investors, this is a tradeable insight. If you're building toward retirement, the allocation decisions you make now — how much goes into dividend growers versus growth stocks, how you stage your fixed-income maturities — directly shape whether you'll have dependable monthly income later. You don't need a product. You need a plan.
Chatzky's approach matters because annuities aren't inherently bad, but they're often oversold. Fees eat into returns, and surrender charges can trap your capital for years. Knowing you have DIY alternatives gives you leverage — both against salespeople and against your own anxiety about outliving your money.
Building your own "forever paycheck" is less about finding the perfect product and more about constructing the right system early. The sooner you start, the more options you have. Continue reading at MarketWatch.com
