I liked this week’s article because it answered the question “At what age should you purchase an indexed annuity?” The author tells us that “the great thing about fixed indexed annuities is that they are a reliable retirement planning vehicle appropriate for people in a variety of life stages.” Call us if you would like to see how they might fit into your planning, we’re always happy to help.
I saw an article this past week which spoke about a new interactive game called “Master of Retirement” and thought to share it with you. Surveys power the game’s questions and offer out informative responses. One question asked in the game is “What is a reason some people choose a fixed indexed annuity? The choices were a) Missing a steady paycheck and income for life; b) Having the principal protected against volatile markets; c) Helping to moderate risk in a financial plan; and d) All of the above.” It was not surprising to read in the answer that “While half of Americans say they will miss receiving a steady paycheck in retirement the most, moderating risk in a financial plan and protecting the principal are also top of mind. Fixed indexed annuities can provide a guaranteed lifetime income stream, while offering balance and minimizing risk in your retirement plan.” Feel free to call us after you’ve played the interactive game should you have any questions you need help answering. We are always here to help.
This week’s article discusses how “recent research by retirement income expert and former U.S. Treasury Department official Mark Warshawsky shows that immediate annuities generally provide you with more lifetime income than you could get by following the take-out-4-percent-of-savings-a-year rule or a similar strategy of systematic withdrawals”. It was interesting to read why. If you are thinking that you need more guaranteed income than Social Security alone will provide, call us to discuss some options you may not have considered. We’re always here to help.
Did you know that the “concept of annuities dates to ancient Rome, but the first record of annuities in America comes from the Colonial period. In 1759, a company formed to provide a secure retirement for aging Presbyterian ministers and their families. In 1812, the Pennsylvania Company for Insurance on Lives and Granting Annuities received a charter to sell annuities to the public.” I found this week’s article interesting and thought to share this historical information with you because often times we don’t appreciate the longevity of a product that helps enhance our financial wherewithal as our own longevity increases. Call us if you are interested in learning more. We’re always here to help.
This week’s article caught my eye when it said “It turns out, many retirees choosing to take their employer’s 401(k) or pension as a lump sum for retirement are taking their lumps.” A survey reported in the article stated that about a fifth of retirement plan participants surveyed “who received their pensions as a lump sum depleted that money in just 5 ½ years”. The reason is apparently what they call the “lottery affect”, where retirees “get more money than they’ve ever seen in their life and say “Wow! I can do something I never could when I was working!”. Call us if you are faced with this situation. We can help you start to think about your retirement plan “not as a pot of gold, but as money that has to last as long as you do in retirement.” We are always here to help.
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I read a good Consumer Reports article the other day that discussed when there isn’t enough saved to meet a retirees expectations in retirement. The article states “Fortunately, there are a number of options for generating extra income without asking undue risks,” and referenced that “to generate guaranteed income in retirement, annuities are a slam dunk.” It is often that opportunity for income without undue risk that retirees are searching for. If you would like to learn more about this option, give us a call. We are always here to help.
The Harvard Business Review published an interesting article explaining how when interest rates and stock prices both plummeted, “the value of pension liabilities rose while the value of the assets held to meet them fell.” You don’t need to be a participant in a group plan to experience similar problems, as the same result can occur in individual retirement accounts. This is often a reason why we talk about finding options where the principal is protected, and the product purchased can generate an income that cannot be outlived. Call us if these kinds of options are of interest to you. We are always here to help.
A Government Accountability Office (GAO) report referenced in this week’s article “highlights the role annuities can play in helping people secure enough income during retirement.” With so many of us searching for additional sources of income that we can’t outlive, annuities frequently come up as an option to consider. Call us if you would like to talk about how they may fit into planning for your retirement. We’re always here to help.
This week’s article emphasizes that “Americans need to take additional steps in order to ensure a financially stable retirement – one that allows them to pay for medical bills and essential costs of living while enjoying their bucket list.” Have you thought about Fixed Indexed Annuities to help do this? The article tells us that FIA’s should be considered “to help create a foundation of conservative growth and ensure a steady income during retirement. With both growth potential and principal protection, FIAs can be a complementary product within existing portfolios since they are not subject to the volatility of the stock market.” Call us if you would like more information about FIAs, we’re always here to help.
“Knowing how much and where to save your money is essential to leading a financially secure life”. However, “wrapping your head around the multitude of retirement options available” can not only be stressful, but confusing. This week’s article is useful in that it provides three questions that you should be sure your financial professional to help you understand your personal situation. Call us, we are always here to help and will make sure that “you are left with more answers than questions to help you achieve your long-term financial goals”.