Hebeler

Mr. Hebeler has invested in "immediate" annuities in stages over three years—a strategy known as "laddering"—to take advantage of potentially rising interest rates.

Making the Case to Buy an Annuity Lavonne Kuykendall 2011

"People didn't think they would live that long, and they spent too much too early," Mr. Hebeler says.

Making the Case to Buy an Annuity Lavonne Kuykendall 2011

Mr. Hebeler suggests taking a detailed look at spending habits as well.

Get a Mid-Retirement Checkup Tom Lauricella 2011

But Mr. Hebeler says he hopes to live into his 90s like his parents did, which would make the annuities a great deal for him and allow him to leave more money to his children.

Making the Case to Buy an Annuity Lavonne Kuykendall 2011

"Bud" Hebeler, who runs the AnalyzeNow.com website that specializes in retirement planning, has been retired now for 22 years.

Get a Mid-Retirement Checkup Tom Lauricella 2011

Mr. Hebeler likes the life-expectancy calculator at livingto100.com, which allows the user to enter personal variables.

Get a Mid-Retirement Checkup Tom Lauricella 2011

But Mr. Hebeler advises redoing that calculation every year to make sure you still are on track—and ensuring you can cut spending to make up for market losses if you aren't.

How Much Is Too Much? Kelly Greene 2011

"Bud" Hebeler, a 78-year-old former top executive at Boeing who retired more than 20 years ago, has seen the limitations of the 4% rule through his work developing Analyze Now, a retirement-planning website, and also in his friendships with peers.

How Much Is Too Much? Kelly Greene 2011

"I know a number of people who have felt that they had their strategy wrong," says Mr. Hebeler.

Get a Mid-Retirement Checkup Tom Lauricella 2011

An Annuity Fan One believer is Bud Hebeler , 77, a retired Boeing executive who runs www.analyzenow.com , a retirement-planning website.

Making the Case to Buy an Annuity Lavonne Kuykendall 2011