As the year ends, and a new one begins I can’t help but be reminded that “because we’re living longer, we can’t think of retirement in a traditional way.” Experts believe that individuals retiring at the traditional ages of 55-65 should plan on living over 30 years in retirement. We understand the need to take personal responsibility for our financial security as we age, and your resolution in this new year to do so. Call us to talk about some options that may help you accomplish your goals. We send you our very best wishes for a good new year.
PREPARING FOR THE NEW YEAR
As this week’s article tells us, “with 2015 right around the corner, many people find December to be the ideal time to review their finances and retirement planning and make adjustments for the coming year.”
In our review, we always think about “peace of mind with a guarantee” and “protection for your next egg”. If you are thinking those same thoughts, call us. We’re here to help.
Do you think in terms of a lump sum or an income stream?
This week’s article is worth reading as it discusses the tendency to focus on the “number” at the bottom of our personal balance sheets, rather than ensuring that a retirement portfolio can generate enough steady money for as long as we live. The article goes on to say that “getting people to start thinking about their retirement in an income stream instead of a lump sum is a big problem.” The reason may be what researchers call the “phenomenon of present bias” where, for example, half a million dollars today sounds a lot better than say $2,500 a month for the rest of your life, even though the $2,500 a month may be what you’ll need more. Call us if you’d like to discuss what options for a steady income stream may be available for you. We’re always here to help.
Why Buy a Fixed Annuity Today?
It is natural that human curiosity makes us ask why we should do something today if we could wait until tomorrow. This question sometimes arises with Fixed Annuities. This week’s article tells us that part of the current “trend toward fixed annuity products may be explained by shifting demographics—baby boomer clients are aging, and the oldest members of this group are now entering (or just a few years away from) retirement. Logically, a client who is just a few years from retirement begins to look for products that will guarantee a certain fixed level of retirement income, thus explaining the shift toward fixed annuity products.” Call us if you find yourself in this situation. We’re here to help you navigate through options and find a solution that works best for you.
Did you ever wonder what others do?
This week’s article made me think that if you are anything like me, from time to time, in certain situations, you wonder if others are doing the same thing you are. Beacon Research President says that “With declining rate advantages over other fixed rate investments, fixed annuities continue to be lifted by investor demand for retirement products” the article provides a separate complete Fixed Annuity sales data information document to back why he says that. We found the information interesting, and thought you might also. Call us if you have questions about what options are available for you in similar situations. We’re always here to help, and look forward to hearing from you.
How will we care?
When I read this week’s article on long-term care solutions for an aging world, I thought about other concerns that living longer creates. “The number of people aged 65 years and above will grow by around 80% to nearly 1 billion over the next 15 years”. Needs will include not just health care, but careful retirement planning in a time where there is great concern about outliving one’s income. Call us if you’d like to talk about some solutions we may have to help you with your retirement planning. We’re here to help.
CUTTING TAXES LEGALLY
We are always interested in reading about ways to cut taxes where legally possible and thought to share with you this week’s article on that same topic. The article tells us that “Cutting your taxes every way that’s legally possible is a smart way to keep more of your hard-earned money. Additionally, paying less tax on the growth of your retirement savings allows you to keep every dollar invested, so you can grow a larger nest egg that generates plenty of income when you need it.” Did you know that there are tax benefits you can enjoy when you add a fixed index annuity to your financial portfolio outside of a qualified account? Take a look at the benefits identified in this week’s article and then call us if you’d like to discuss what options are available to you. We’re always here to help.
The Changing Face of Retirement
I liked this week’s article and thought to share it with you because it raises a common myth which is “If you have a retirement account you don’t need an annuity”. Instead, the article reminds us that “One of the major benefits you can get from a fixed indexed annuity is the guarantee that you’ll never run out of money during retirement.” It goes on to say “Having funds in a retirement account is a terrific asset, however those accounts don’t guarantee to give you an income stream that will last for your entire life.” If these are concerns you have, call us. We look forward to speaking.