Here’s a question that might, at least initially, sound a bit off. During your retirement, do you want to be happy or unhappy?
If you’re like most people, you’re aiming for the former, as versus the latter.
But while that should go without saying, the reality is that happiness in retirement is something that doesn’t automatically happen.
In fact, if you haven’t properly planned for this time in your life, the chances of not only being unhappy, but also of being stressed out on a daily basis are much more probable than you’d like to think.
The Happy Factor
Take a moment and consider the things that make you the happiest. Do they entail spending time with loved ones, or instead constantly worrying about whether or not you’ll be able to pay your bills? My guess is that worrying doesn’t make people very happy – which is why studies have shown that true happiness in retirement is tied in large part to having a guaranteed lifetime income. Not assets, not net worth – but income! In fact, even the Wall Street Journal says that the “secret” to having a happy retirement is friends, neighbors, and a fixed annuity.” The friends and neighbors component is easy to understand, as we often want to share life’s experiences with those we care about. But how can a fixed annuity contribute to your ultimate happiness in retirement? One reason is because this financial vehicle offers you the opportunity to receive a set amount of ongoing, guaranteed income – and you can continue receiving that income for the rest of your life. This means that you’ll know exactly how much money you will have coming in for paying bills, taking vacations, and having fun. It also means that you won’t have to stress about a downward moving stock market, which could otherwise have the ability to wipe out years of your savings, and in turn, your future retirement income stream.How to Plan for Your Happily Ever After
Planning for retirement doesn’t just entail “setting money aside for the future.” While that can be a good start, there are a plethora of risks than can hinder your savings, your future income, and ultimately your happiness in retirement. Just some of these risks include a volatile stock market, continually rising prices of goods and services, and the potential of having a health and / or long-term care need. But there are financial vehicles available that can help you to ensure that income will continue to flow in for the remainder of your life – regardless of how long that may be. One such option is an annuity. However, not just ANY annuity will work. Just like there are with other financial vehicles, annuities can come in all different shapes and sizes. They can also have a myriad of “moving parts,” which in turn, can make these products somewhat confusing. At Annuity Gator, we specialize in analyzing all types of annuities, and then passing on the information to retirees and those who are planning for retirement, in an unbiased and easy to understand way. We know annuities because we’ve been working with these products for many years – and because of that, we can help to guide you toward the one that will work the best for you. Want more information on whether or not including an annuity in your retirement plan can make you happier? Just contact using our secure contact form and we’ll walk you through all of the details.
