As baby boomers retire and start spending their nest eggs, they will need new financial products to make their money last, according to speakers at a recent Wharton Impact Conference titled, “Managing Retirement Payouts: Positioning, Investing and Spending Assets.” The conference explored emerging patterns in spending during retirement and debated new ideas to help retirees manage their finances after leaving the workforce. According to Olivia S. Mitchell — executive director of Wharton’s Pension Research Council and director of the Boettner Center for Pensions and Retirement Research , the conference’s sponsors — a significant amount of research exists on the adequacy of retirement saving and the transition from traditional pension plans to today’s do-it-your-self programs. Now, with the Baby Boom generation on the brink of retirement, analysts are becoming concerned about how those savings will be spent.…