Have you ever thought about why people haven’t saved more for their retirement? “Financial shocks leave a mark on financial outcomes such as your ability to retire,” said one of the authors of RAND’s study on savings regrets. “The shocks can be quite serious and set people back, in some cases, for the rest of their life.” Do you need help regrouping from a “surprise”? Call us, we may be able to offer you some options you have not considered. We’re always here to help.
GOALS
With the New Year, we often reflect on goals and resolutions. This week’s article tells us “Surveys of retirement-age baby boomers indicate they no longer seek high growth in their portfolios. Instead, they express a desire for guaranteed lifetime income, safety of principal, and related qualities. Annuities meet those goals”. If these are your goals in this New Year, give us a call. We’re always here to help you achieve them.
HAVING YOUR CAKE AND EATING IT TOO!
I thought you might be interested in this week’s article because it mentioned a goal that I have been hearing more and more people mention in recent weeks. The author asks if you are seeking “a guaranteed minimum rate of return that never varies regardless of market swings”, and if you are also interested in a product “where the insurance company assumes the risk”. Call us if this interests you and we’ll answer any questions you might have.We’re always here to help!
HEALTH AND MONEY
Did you know there are studies that indicate health declines with retirement, and thus health costs increase. “For many people, retirement is a key reward for decades of daily work—a time to relax, explore, and have fun unburdened by the daily grind. For others, though, retirement is a frustrating period marked by declining health and increasing limitations.” Make sure you factor into your retirement planning the possibility of increased health costs. We’re here if you would like to discuss options for a product that can provide income you can’t outlive.
ROLE IN RETIREMENT PLANNING
This week’s article tells us that “Annuities play an important role in retirement planning by helping individuals guard against outliving their assets. In the most general sense, an annuity is an agreement for an entity (generally a life insurance company) to pay another entity a series of payments. While there are many types of annuities, key features can include tax savings, protection from creditors, investment options, lifetime income and benefits to heirs.” If these are some of the features you are looking for in your retirement planning, call us. We’re always here to help.
A COMPLEMENT
“An annuity serves as a complement to other retirement income sources, such as Social Security and pension plans.” One of the reasons is because “all the money you invest compounds year after year without any tax bill from Uncle Sam. That ability to keep every dollar invested working for you can be a big advantage over taxable investments. When you cash out, you can choose to take a lump-sum payment from your annuity, but many retirees prefer to set up guaranteed payments for a specific length of time or the rest of your life, providing a steady stream of income.” If you think that this might help you in your retirement planning, let us know. We’re always here to help.
FREQUENTLY ASKED QUESTIONS
It is always important to “get the answers you need to help calculate your path to retirement.” This week’s article goes a long way toward helping you navigate the way by providing information about frequently asked questions you may have about an option you are considering. Learning more about your choices is good, so call us if there is anything you’d like to discuss. We’re always here to help.
ONE SOLUTION TO THIS PROBLEM
Did you know that “recent studies put the “retirement income gap,” the difference between the amount of money retirees have saved and what they need to maintain their standard of living in retirement, at $7.7 trillion. In addition, retirement savings are subject to market volatility, interest rate fluctuations, longevity risk and escalating retiree health-care expenses. One solution to this problem is a product that economists agree to be one of the only providers of guaranteed income outside of Social Security and pensions — annuities.” Call us if you’d like to know more about this option for guaranteed income. We’re always here to help.
CONFIDENCE
The Stanford Center on Longevity published an article that I thought you might like to read. While it said “current studies show that individuals’ confidence in the ability to retire comfortably, or to retire at all, are at new lows”, it went on to explain “this is because retirees and pre-retirees often fall prey to several “pitfalls” surrounding retirement planning.” As you think about your retirement plans, call us. We may know of some options you have not considered. We’re always here to help.
INCOME OUTSIDE OF SOCIAL SECURITY AND PENSIONS
With fewer and fewer companies funding retirement plans, “retirees have become dependent on savings that are often inadequate to fund their retirements. Recent studies put the “retirement income gap,” the difference between the amount of money retirees have saved and what they need to maintain their standard of living in retirement, at $7.7 trillion. In addition, retirement savings are subject to market volatility, interest rate fluctuations, longevity risk and escalating retiree health-care expenses. One solution to this problem is a product that economists agree to be one of the only providers of guaranteed income outside of Social Security and pensions — annuities.” Call us to discuss whether this product has a place in your retirement planning. We’re always here to help.