Retirement Planning

10.7% of Americans have retired into poverty.
About 55% of retirees rely on Social Security as their largest source of income in retirement, despite the possibility that benefits could be reduced by 2035. About 20% of retirees have less than $10,000 in savings. Old age and earnings seem to be at a parallel.

What if you could change that with good retirement planning?

Plan Now For Retirement

If you want to have a prosperous life after retirement, you must put in place correct financial strategies of saving, investments, and ultimately distributing money to sustain yourself during retirement.

You’ve worked hard all your life and saved for retirement for years. Your savings may run out if you don’t create a regular stream of income to help pay your bills.

If you start now, you can create a long-lasting stream of income.

When there is no retirement planning, it can be difficult to make ends meet in retirement. This is because you will no longer have a regular income from your job. If you have not saved enough money, you may have to rely on Social Security benefits, which are not enough to cover the cost of living for many people.

Here are some of the challenges that people face when they do not have a retirement plan:

  • Financial hardship: If you do not have enough savings, you may have to rely on Social Security benefits, which are not enough to cover the cost of living for many people. This can lead to financial hardship and even poverty.
  • Reduced quality of life: If you are struggling to make ends meet in retirement, you may have to reduce your standard of living. This could mean cutting back on travel, hobbies, or even basic necessities.
  • Increased stress: The stress of financial hardship can take a toll on your physical and mental health. This can lead to health problems, such as anxiety and depression.

Types of Retirement Income

This refers to investment earnings such as interest, dividends or capital gains that accumulate without being taxed until the investor receives the profits.

This term describes any investment, financial account or savings plan that is exempt from taxation, tax-deferred or offers other tax benefits.

Risks Associated With Retirement Planning

Here are seven possible risks of retirement planning

  • Longevity risk: You risk outliving your savings due to a longer life expectancy or unexpected medical expenses.
  • Inflation risk: This is the risk that the cost of living will rise faster than your retirement income, leading to a decrease in your purchasing power.
  • Health risk: This is the risk of unexpected health issues that can impact your ability to work and save for retirement, as well as increase your healthcare costs during retirement.
  • Tax risk: This is the risk of unexpected changes to tax laws or regulations that could impact the value of your retirement savings or increase your tax liabilities during retirement.
  • Market risk: This is the risk of market fluctuations affecting the value of your retirement investments. A sudden market downturn could significantly reduce the value of your portfolio.
  • Interest rate risk: This is the risk that interest rates will change, which could affect the value of your retirement investments, particularly bonds.
  • Withdrawal risk: This is the risk of withdrawing too much money from your retirement accounts too soon, which could deplete your savings faster than anticipated.
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How I can Help

I will guide you to a Fixed Index Annuity. Fixed index annuities are a way to use money for retirement to ensure a steady income after you retire. It is a way to earn interest based on market performance without risking losing money.

A fixed index annuity is a type of insurance product that offers investors the potential for growth with protection. The underlying index of a fixed index annuity is typically a stock market index. When the index increases in value, the annuity will also increase in value, up to a certain point.

However, when the index decreases in value, the annuity will not decrease in value.

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Discover

Six Reasons to Consider a Fixed Index Annuity (FIA)

Accumulate money for retirement

FIAs offer the potential to earn interest based on changes in an external index.

Protect your Principal

Your contract can start earning interest based on an external index, but you’re not actually buying any stocks or shares of an index. This means you cannot lose your money.

Grow tax-deferred

You don’t pay taxes on the interest your annuity earns until you take money out. This helps compound your interest, so the money can accumulate higher.

Get Flexibility

Some FIAs offer riders to help you address specific needs. They also offer a variety of crediting methods and flexible options for receiving income.

Receive guaranteed income

Annuities are designed to provide a reliable stream of retirement income, either for a set period or for as long as you live. Some FIAs even offer you the potential to get increasing income.

Leave a legacy

FIAs pay your loved ones a death benefit if you pass away before you start taking scheduled annuity payments.

Fixed index annuities have two phases: The first is the accumulation phase, during which your annuity can earn interest and grow tax-deferred.

I will guide you to the best Fixed index annuity that best suits your goals and future. You can rest assured that I understand the best policies that fit different situations.

Contact me for a FREE assessment today and we will go on from there.

Do you have a plan in place where you will never run out of money in retirement ?

  • What strategies do you have where you will never lose money even during market crashes?
  • Do you have a plan in place where you will have a Guaranteed lifetime income during retirement?

If you answered NO to any of these questions, I recommend book a free consultation with me to learn more on how you can plan for it.

The Best way to retire Happily is to have some sort of guaranteed income. Because in retirement everyday is a weekend.

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