Smart Ways to Spend a Tax Refund

Are you getting a refund back from Uncle Sam this year? Rather than splurging on a whim, consider making some smart moves with that money. Here are some ideas that are a good use of your refund.

Longevity Risk

Longevity risk refers to the risk that actual survival rates and life expectancy will exceed expectations. To pension plan administrators, this means that the pricing assumptions and life expectancies of retirees results in a greater-than-anticipated retirement cash outflow. To individual retirees, it means that we will outlive our retirement savings.