Creating a diverse retirement income strategy is vital to help ensure retirees have enough money to last throughout their entire life. One solution that can make this guaranteed lifetime income is a fixed index annuity.
To ensure you have enough saved up to enjoy all of these activities, be sure to create a retirement plan that outlines the income you need to cover both planned and unexpected expenses.
Tax deferrals that most IRAs, retirement and profit-sharing plans are afforded don’t last forever. Whether you’re ready for retirement income or not, IRS rules require that you start drawing down your savings from certain types of accounts when you reach a certain age.
Annuities are often misunderstood. Many people may find them difficult to understand and navigate these insurance products due to misinformation, rumors, and myths. As a result, many individuals are put off from the idea of purchasing an annuity.
Creating a retirement plan is now more critical than ever. Including an annuity as part of your overall financial strategy can help you grow and protect your retirement savings while providing income for the future. Let’s look at the different types of annuities and the benefits they can provide as you prepare for retirement.
FIAs offer the opportunity for tax-deferred growth, and many give you the option to generate guaranteed, lifetime income within the same product while protecting your premium from market volatility.
Living comfortably as a retiree is a top priority for many workers as they save and strategize for the future. When creating a retirement income plan, you have many opportunities to build your savings and ensure you have the money you need for planned and unexpected expenses. One of these opportunities is an annuity.
When it comes to sustaining retirement income, people often place importance on the average rate of return. However, what might be more impactful is not the average return, but the order of returns.
To learn more about the changing landscape, Midland National recently surveyed hundreds of individuals about how COVID-19 has impacted their finances. Nearly half of the respondents agreed that the pandemic has influenced the way they manage money and how they save for retirement.
Whether or not you’ve been affected by COVID-19, it’s important to have a focused plan for your finances. Today’s uncertainty could very well impact your life and your financial security. Here are some ways to help effectively manage your finances during the pandemic.
