One Route to a Stable Retirement Income


One Route to a Stable Retirement Income

Posted by Infinite Wealth Advisors, LLC
8 years ago | March 13, 2016

Senior man giving woman piggyback rideCan I really live off of my retirement fund for the rest of my life? What if I run out of money? What if I live much longer than I expected? Can I live on Social Security alone? Will I become a burden on my family? These are some of the most common concerns that we hear about retirement. You know you can’t continue to work forever, but it’s scary to give up a steady paycheck and rely upon your retirement savings.

Specifically, some of your worries might include:

● Inflation – we don’t often notice it from one year to the next, but the effects are easily seen over a decade or so. One day your fixed income might not cover essentials like food and utility bills.
● The stock market – It’s unpredictable, and your assets might not grow as you hope they will.
● Your pension plan – Pension plans are disappearing. Will yours still be available in ten or twenty years?
● Health care – Prices of treatments, procedures, and medications rise every year, and you can expect to need more health care as you grow older.
● Long term nursing care – Medicare won’t cover most of this expense. How will you pay for nursing care if you need it?
● Longevity – You will probably live much longer than previous generations. That’s terrific news for you, but it might spark concerns about outliving your money.

Considering the above factors, and how they can interact to really put a squeeze on your retirement budget, it’s no wonder that you’re feeling concerned!

For some people, an annuity is the perfect answer to the above dilemmas. There are as many different types of annuities on the market as there are needs, meaning you can structure your contract to best benefit your unique situation. For example, under some contracts you can receive payments for the rest of your life – no matter how long you live. Other types of annuities can be structured to protect you from inflation, if that is your primary concern.

There is no single annuity product that is the perfect fit for everyone. But with knowledgeable guidance, you can select the right policy and personalize it to best suit you. Call our office to schedule an appointment, and we will discuss your particular concerns. Then, we will help you decide if an annuity is the answer to your retirement income worries.

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