Mike MilliganFounder and CEO, 1.oak Financial · Founder and CEO, 1.oak Financial

Don't Outlive Your Money! Using Annuities to Solve the Longevity Crisis

26 Nov 2025 · 1 min

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In this segment, Mike Milligan highlights the growing problem of outliving one’s savings due to increased life expectancy. He explains that while life insurance protects against mortality risk—dying too soon and leaving family without income—annuities are the financial tool designed to mitigate longevity risk. An annuity guarantees continued income even after the original principal is exhausted, ensuring that retirees can maintain cash flow throughout an extended lifespan.

Chapters

What if I live to 100, but my money only makes it to 82? That's a big problem. Longevity is the blessing we forget to plan for. Thanks to modern medicine and kale smoothies, people are living longer than ever, and outliving their money is no joke. Gary, uh, one of the things people don't realize about financial instruments or financial tools or products is that life insurance is the tool you use for mortality risk. Mortality is dying too soon. Yep. Right? Uh, and your family depending on you for your income. So you buy life insurance to protect your family against them running out of money. An annuity is what you buy to protect against longevity risk, because if you have an annuity, once the principal goes away, once it goes to zero, the income checks keep going.