Your Income for Life Report
Annuity Strategy
Identify Your Actual Need So You Don’t Outlive Your Money!
We all try to save, and we contribute to a 401k or pension plan (if we have one), but are you truly prepared for retirement? Most of us spend more time preparing for a vacation then we do for retirement. Will you have enough income when you stop working? Let’s take a look at the Income for Life Strategy.
The first step is to get a clear picture of what you have now. Here’s what we look at:
- Savings - Money in the Bank
- Checking/Savings
- CDs Qualified Plans (Retirement Accounts)
- Any IRAs
- Current 401k, 403b or 457 plans
- Current income / Your age and when you want to retire
- Investment accounts
- Real estate and amount of debt
- Company or Government Pension
- Social Security income
- Any Life Insurance or Long-term care
- Approximate Monthly Expenses / how much you think you’ll need in retirement
We will run the numbers and prepare an Income for Life Strategy Report that shows what you currently have, and we also project what your income will be in the future based on your needs and your accounts.
What Are Your Top Concerns?
Here are typical responses :
- Paying for college or providing for grandkids
- How much will our existing income drop
- What happens if one spouse dies
- What income should we use first
- Lack of long-term care protection
- Not enough life insurance
- Taking care of elderly relatives
When we do an assessment, we look for the Gaps where the numbers come up short; we also look for possible Cliffs where a sudden loss will dramatically alter your retirement landscape.
Filling the Gaps and Fixing the Vulnerabilities
The remaining challenges also entail minimizing risk. A sudden downturn due to Market volatility can seriously disrupt your plans; therefore, you must safeguard and protect your income as well as identify safe, lower-risk solutions to provide additional lifetime income as well as protection from life-threatening illness or long-term medical care. In addition to your existing accounts, an affordable solution can be designed with a combination of asset-based Long-term care and an indexed annuity that provides guaranteed lifetime income. You can reliably prepare for different scenarios and generate income when you need it. Added benefits include longevity credits (your money continues to grow while your account matures), there are liquidity options to access funds when you need them, and a death benefit will guarantee that your asset will be available for your surviving spouse or your heirs.
Call our office to schedule a no-cost/no obligation introductory meeting
