Safety First
Learn how to protect your retirement savings and ensure steady income with a plan designed for your future.
Safe Retirement Income
Earlier in your career, you could afford to take more risks with your savings. If the market declines, you’ll suffer a loss, but you’ll have plenty of time to recover from that loss. You’re still decades away from retirement, after all. But what about when retirement starts to get closer? If you’re a retiree or pre-retiree (with only a few years left until retirement), you no longer have the luxury of time on your side. You will need your savings soon as a source of retirement income. What if there’s another market drop? In short, you need a more in-depth plan than the “buy and hold” approach now that retirement is on the horizon (or already here).
Annuities and Retirement
Many people use their 401(k), 403(b), IRA, or other retirement plan accounts to invest in the stock market while they’re trying to build wealth. The idea is to invest for the long haul. Theoretically, your money will grow if it remains in that same spot. Your needs, however, are likely to change as you approach or enter retirement.
Considering this, a fixed index annuity (FIA) might be the best way to protect and grow your retirement income.
This product provides guaranteed* income protection, as the issuing insurance company is required to set your money in a reserve where it will remain protected. Another big advantage of FIAs is tax deferral. With an FIA, taxes are not due until you take the money out, unlike with a mutual fund or CD. If you have a retirement plan account that doesn’t offer tax deferral, you may be able to defer taxes on it by transferring the money into an FIA instead. However, it’s important to consult a qualified tax advisor for questions like that.
Preventing Losses
Preventing losses is the first step towards safe retirement income. Usually, our clients share a few characteristics. First and foremost, they obviously don’t want to lose the money they’ve worked so hard to save. Second, they want to see a reasonable rate of return** on their savings. Third, they want a simple strategy they understand and can be confident in. If any of that resonates with you, it means your goals are similar to ours. Contact us; we can help guide you towards safe retirement income options.
