text:  you'd never want to run out of money during retirement. That's the number one fear people have, outliving their money. So you have a choice. Do you retain the risk of running out of money, or do you transfer that risk? Just like you transfer the risk of your house burning down. Even though your house is paid for as you go into retirement, and I'm seeing more and more news accounts of people foregoing insurance on their homes, just like you don't have to have full coverage on your car once your car is completely paid for and you don't have a loan, you choose to buy insurances to transfer that risk, and people have the option.