By Mark Coker

“Happily ever after” is typically the ending to a fairy tale.

But it’s more than that. It’s also the way we want to retire. What does it take to have a long and happy retirement? This has been the subject of study by Ph.D.’s in countries around the world. Before I go on, how would you answer? What is it that makes a long and happy retirement? The answer may surprise you.

The research shows people who have guaranteed income for life tend to be happier and live longer. The Wall Street Journal in 2005 headlined, “The Secret to a Happier Retirement: Friends, Neighbors in a Fixed Annuity.” The article went on to say if you don’t have a pension, then buy yourself a guaranteed income with an annuity. The WSJ writer said ‘. . . I like to create paychecks, not portfolios in retirement’. He went on to say, ‘Invest in friendships.’ Imagine not having to worry about income, and being able to spend time with friends makes people happy! Who would have guessed?

You don’t have to take my word for it. Who are the happiest retired people, you know? Is it the ones watching their portfolio every day? Stressed out with market gyrations? Worried about market losses? Spending as little as they can so they don’t run out of money before they run out of life? Glued to a computer screen every day, watching their portfolio go up and down.

Or is it the people with pensions? You know, teachers, postal workers, government employees, and so on? The ones who get a check each month and are not worried about having a reliable income?

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