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Is a Guaranteed Lifetime Withdrawal Benefit (GLWB) Worth It?

Imagine that you decided to retire at the end of 2021 and were planning on spending $25,000 each year from a $500,000 balanced portfolio of stocks and bonds. Before this year, you would have had about an 80% chance of being able to fund 30 years of income. Fast-forward to today, when your portfolio is down 20% or more, would you still feel comfortable spending $25,000?

How much would you pay to know that, despite recent poor market performance, you could still withdraw $25,000 a year and not have to worry about how your investments are doing or even how long you will live?

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