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A recent BlackRock survey found 62% of 401(k) participants worry their investments won’t generate enough money to cover their retirement and many have unrealistic expectations about how much income their 401(k) investments will payout and how long they will last.

“It’s important to remember that many Baby Boomers accumulated their retirement assets during the extended bull markets of the 1990s and may have unrealistic expectations of ‘normal’ returns,” according to BlackRock.

Ackerley said most people have no idea what to do with the money they have saved in a 401(k) when they retire or how to make those savings last the rest of their lives.

“You don’t know how long you’re going to live, don’t know what your expenses are going to be,” she said.
https://finance.yahoo.com/news/401k-offer-annuity-option-guaranteed-retirement-income-142331839.html