When Social Security Is Not Enough

My father was a hard working man. Unfortunately, he was a self employed hard working man his entire life. This means no severance package, no pension, no retirement plan and no 401K or IRA. To his credit, he has saved a decent amount of money but the issue is what to do with it. It will be eaten up alongside his social security check. The answer may be one of the many retirement income funds that have come available. Based on an individuals needs, these funds supplement the paycheck from social security. They do eat up nest eggs but generally not nearly as quickly while still producing income.