Retirement income strategies are not just for the wealthy. As retirement nears, the traditional strategy has been to move growth-seeking products to more conservative, fixed-income products. According to a recent study, life expectancy in the United States is at an all-time high.1 This means that you may need to plan for your retirement savings to potentially last 25 to 30 years.
One drawback to a longer life is the greater possibility of outliving your savings — creating all the more reason to develop a retirement income strategy designed to last a longer lifetime. In one study, 43 percent of Americans surveyed said their No. 1 fear in retirement was the possibility of outliving their savings.2
A significant loss in the years just prior to and/or just after you retire could negatively impact the level of income you receive over the course of your life. In fact, if a loss occurs earlier in life, there is also the chance that you may have more time to recover (versus a loss occurring later in retirement). Why? Simply because a smaller pool of assets is left to sustain you throughout your retirement years, and your assets may not have as much time to recover.
We can help you design a guaranteed* retirement income strategy that incorporates insurance and annuity vehicles to create opportunities for long-term growth as well as guaranteed* income throughout your retirement.
1Honor Whiteman. Medical News Today. Oct. 8, 2014. “CDC: Life Expectancy in the US Reaches Record High.” http://www.medicalnewstoday.com/articles/283625.php. Accessed March 23, 2015.
2 Catey Hill. MarketWatch. July 18, 2016. “Older People Fear This More Than Death.” http://www.marketwatch.com/story/older-people-fear-this-more-than-death-2016-07-18.
*Guarantees are backed by the financial strength and claims-paying ability of the issuing company and may be subject to restrictions, limitations or early withdrawal fees. Annuities are not FDIC insured.
Your investment advisor is not permitted to offer, and no statement contained herein shall constitute tax or legal advice. You should consult a legal or tax professional on any such matters.
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