Although many people plan ahead for retirement, one of the most difficult components is the unknown. For example, if we all knew exactly how much time we had left on earth, it would be a lot easier to prepare financially.
Maybe that’s why some people end up living a “just in case” retirement. They save and invest for decades, but when the time comes to say goodbye to their employer(s), they are afraid of spending too much money…just in case they need it for something else later on.
So unfortunately for them, they don’t follow through on many of their retirement dreams, such as buying a condo at the beach, traveling the world, or spending their days lollygagging on the golf course without another care in the world.
But is that really the way you want to spend your time in retirement?
What It Really Takes to Ensure a Successful Retirement
Planning financially for the future can be tricky – and this is oftentimes made worse by all of the conflicting information being spouted about by the financial “gurus” on TV, radio, and the Internet who want to sell you the next Apple or Microsoft stock.
But the truth is that amassing a large amount of assets has very little to do with whether or not you will achieve your goals in retirement. In fact, according to retirement expert Tom Hegna, the success of your retirement is really not about assets at all. Rather, it is much more about how much guaranteed, lifetime income you have.
Annuities can provide you with that income stream. Plus, once you have your base income covered, accomplishing your other financial goals can much more easily fall into place. Knowing that you’ll have a reliable stream of income arriving on a regular basis can also ease your worries about moving forward on your other objectives.
Taking it a step further, research has shown that retirees who have a reliable stream of lifetime income are also happier and healthier.
What other financial vehicles can do that?!
How to Cover All of the Bases in Retirement
Over the past decade or so, employer-sponsored pension plans have all but disappeared. But that doesn’t mean that people can’t create their own guaranteed income for life. Annuities are often referred to as “personal pensions” because they can offer a stream of income for the remainder of your lifetime, regardless of how long that may be.
But not all annuities are the same. So, before you move forward with a long-term financial commitment, it is important that you discuss your needs with an annuity expert who can guide you in the right direction.
At Annuity Gator, we provide education on how annuities work, and how to choose the right annuity – if any – for your particular needs. We can also assist you with performing direct comparisons of different annuities so that you know what you can anticipate in terms of short-and long-term performance.
Want to learn more about how to eliminate the either/or dilemma in retirement?