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Can Your Kids Ruin Your Retirement?

This week’s article illustrates what the author calls “one of the biggest threats to your retirement – – your kids.” He tells us that the percentage of 25 to 35 year olds living at home is ”almost double the share of today’s older retirees who were in the same situation years ago.” Financial help and assistance provided by Seniors to their aging offspring can quickly diminish their ability to save enough for retirement. The article reviews the numbers gathered in a survey– including a finding that “nearly 80% of parents give some financial support to their adult children – to the tune of $500 billion a year.” Call us if you find yourself in this situation. We may have some ideas on where to put the savings you do have, off of which you can generate an income that you can’t outlive. We’re always here to help.

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Retirement Challenges for Those in Physically Demanding Jobs

Commentary:
I read about a study I thought might interest you. “This report examines the retirement readiness of people who are in physically demanding jobs. Due to the strenuous nature of their work, these workers are at risk of aging out of their occupation before they are financially or mentally ready for retirement. The report offers recommendations to help this unique segment of the workforce.” Call us if you fall in this category. We may know of some choices to help you become more financially ready for your retirement. We’re always here to help.

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The Role of Confidence

This week’s article discusses how owning a certain financial product can influence on an emotional level the confidence that retirees feel. Researchers interviewed “income annuity owners to provide insight into the emotional impact of guaranteed income. They found that annuity owners have a greater level of confidence, feel the freedom to spend and invest and feel more certain in leaving a legacy. Using an income annuity supports higher success rates in retirement. Retirement outcomes when the combination approach is used are very attractive when compared to investments-only, both in terms of supporting a spending goal and a greater legacy value of remaining assets.” “On an emotional level, retirees are more confident when there’s certainty to their monthly income. The certainty an income annuity provides increases confidence and reduces stress in retirement.” Call us if you would like to explore this option. We are always here to help.

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Grumps and Complainers

This week’s article out of London begins by telling us that in that city, known for “grumps and complainers”, a new study reveals that retirees with a guaranteed lifetime income stream can find true happiness.” This study related to Britain’s first-ever national happiness survey, but seems to convey a universal message, “the main one being the importance of guaranteed income in retirement.” Call us if this message resonates with you. We may have some options to consider, and are always here to help.

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What is your RISE Score?

Did you know that there is a Retirement Income Security Evaluation Score (RISE Score™) much like a credit score on a zero to 850 scale, but for your retirement. “The purpose is to provide you with an estimated measure of income security to help you determine whether you’re on track with your current retirement income plans.” “The RISE Score is also designed to help answer this simple question: How can my retirement security potentially be improved through the addition of lifetime income solutions in my retirement planning strategy?” Call us if you are looking for additional lifetime income. We know of some options you may not know about, and we’re are always here to help.

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LOOKING BACK ON RETIREMENT PREPARATIONS

Sometimes hindsight can provide a valuable lesson. While retirement is highly personal, I thought you might find it interesting to read the result of a study that looked back on what the financial preparations for retirement looked like. The study showed that among retirees who saved for retirement, the median age they first started saving was at age 40, and forty-six percent of those that participated in the study did not have a retirement strategy. We know how hard it is to save for retirement. Call us, we can offer out some options of where you can put your hard earned savings to provide you an income in retirement that you can’t outlive. We’re always here to help.

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EFFICIENCY

This week’s article tells us that “Annuities are one of the most efficient ways to generate guaranteed income. This is demonstrated through a series of three case studies which looked at combination strategies using both annuities and investments compared to traditional investments-only portfolios. The simulations found: Adding an income annuity to a retirement portfolio allows a retiree to get the same or higher income with lower risk of outliving savings than an investments-only approach; Income annuities allow a retiree to spend at a level that investments alone would be unable to match without significant risk of running out of money before age 95; Using both annuities and investments can enhance the value of assets for heirs over the long term. Ultimately, the research showed income annuities can help to better meet client goals in retirement than an investments-only approach in most situations.” Call us if you would like to become more efficient in your retirement planning. We’re always here to help.

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DON’T ASSUME

Commentary:
I read an interesting study the other day that I thought to share with you. The study discussed something that we may incorrectly assume will happen as we continue to plan for our retirement, and that relates to keeping in mind that if you plan to continue to working through a certain age and beyond in order to continue to save for retirement, planning on working doesn’t equate to a guarantee that you will in fact keep your job. Call us to discuss some options that can help you navigate the risks and offer out some assurances that are necessary in order to plan realistically. We’re always here to help.

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THE POWER

“Every retirement is different, each with its own financial plan and unique needs, but many of today’s retirement goals include achieving asset protection, growth opportunities, and a reliable income source. Fixed index annuities are a long-term retirement product that have helped many Americans plan for income in retirement and balance their retirement portfolios with benefits like principal protection, tax-deferred growth and guaranteed income that cannot be outlived.” If your goals align with what this week’s article tells us, give us a call. We are always here to help.

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YOUR TOP ASSET: TIME

I read a flyer the other day that caught my eye. It said “Losses can be recuperated but time cannot.” So true. What to do when losses have been incurred but you are later on in years can be a stressful situation to confront. We can help explain the role that a Fixed Index Annuity can play in helping you to move on from this stress. In the meantime, we thought you might want to look at some charts that show historically “the power of protection and value of time saved in recouping from index volatility.” Call us, we’re always here to help.

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FEATURED ARTICLES

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Educate Yourself

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Understand the Basics

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Who's who in a Fixed Index Annuity

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Understand the Benefits

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Tax Deferral

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Indexed Interest Potential

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Protection Benefits

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