In a day and age where people are living longer and longer lives, yet guaranteed pensions and defined benefit plans have become increasingly rare and risky, the need for safe and predictable wealth accumulation and protection, and guaranteed retirement income, has never been greater.
Building and protecting wealth methodically and safely is one of the best ways to plan for your retirement. During my career, I've discovered that most people attach their own unique vision of what retirement means. But the bottom line for all of them is “will I have enough money to live the lifestyle I envision long into my retirement years?”
How do you get there from here? Here's what I believe.
At retirement, many people feel their world is about to change. Have they saved enough? How will they manage their money? Will they outlive their retirement savings? It’s a big change, and change can be incredibly exciting, refreshing, and rejuvenating. It can also bring about uncertainty.
We are all good at generating and managing a regular income, but few of us are experts in managing lump sums of money – like those we might receive at the end of a 401(k) accumulation or other pension plan. The change between how things looked financially when you were working and how things will look going forward into retirement is often one of the most underestimated transitions for all professionals, regardless if you made $750,000 a year or $75,000 a year.
When you are working, you received a regular check. You could expect an increase in pay through your annual cost of living adjustment. You might even have anticipated a bonus if your company did well in a given year. You had health insurance, which really meant that if you fell ill, you had coverage in place to protect you. If an unexpected expense arose and you needed to take money out of your 401(k) or pension fund, you could.
You carried life insurance, which meant you had a way of making sure that your family was taken care of financially if something happened to you. Most importantly, you had control. Even if someone else managed the details, you made the choices and you could make changes as you saw fit.
Retirement doesn’t have to mean losing control and becoming burdened with fear and anxiety over financial issues. In fact, it can be just the opposite.
Depending on your specific circumstances, a Fixed Index Annuity may be a great solution to help address some of these concerns. Following are some frequently asked questions that may be of assistance to you:
Q. What is a Fixed Index Annuity?
Q. How does a Fixed Annuity Work?
Q. Can I lose money with a Fixed Index Annuity like I can in the Stock Market?
Q. What other benefits do FIAs provide?
Q. How will I be able to access money when I need it?
Please take a minute to hear from some of my clients to see how we worked together to ensure their retirement years are worry-free and fun. You’ve worked a lifetime to build the retirement of your dreams. I am here to make sure you enjoy it.
For a no-cost phone consultation or a complimentary DVD called “Retain Your Gains”, feel free to call me at (239) 455-0027 or fill out this form.
John M. Carlson provides professional financial planning to include: Guaranteed Income Riders, Fixed Index Annuities, Tax-Free Income, Tax-Deferred Growth and Retirement Income Planning