If your answer is assets, you could find yourself in the same position as the owner of the mythical “golden goose.”
You’ve likely heard the Aesop fable about the goose and the golden egg, where each day the goose laid a beautiful, glittering, golden egg. While the goose’s owner took the eggs to market every day – and was able to become a wealthy man from their sales – he eventually grew impatient and wanted more. But when he ended up killing the golden-egg-producing goose, he found that not only were there no more eggs inside, but he had done away with his regular income producer.
In many ways, this story outlines how many people have been taught to plan for retirement. Rather than concentrating on generating a nice steady income stream, they instead try to generate as much growth as they can in their portfolios, only to end up risking – and in some cases, losing – it all.
In Retirement, Income is King
While saving and growing assets is certainly a key part of planning for retirement, the reality is that there are some retirees who are able to generate far more income with fewer assets – and are living a perfectly happy and worry-free life.
Just the opposite is true, too, with some people “risking it all” in order to hit it big…only to find that they lose it all, and then spend their golden years wondering when (not if) their money will eventually run out.
So, if your current plan has you spending assets rather than income in retirement, it may be time to turn things around.
One strategy is to generate an ongoing, guaranteed income stream with an annuity. Annuities are designed for paying out income – either for a set period of time or even for the remainder of an individual’s lifetime, regardless of how long that may be.
By being able to count on this regular income stream, month in and month out, year in and year out, you can spend your retirement years focusing on the things that truly matter, like spending time with your loved ones, traveling the world, or just simply enjoying each day.
How to Ensure that You Have Spendable Income in Retirement and Keep Assets Safe
By adding an annuity to your retirement income plan, you can count on a reliable stream of incoming cash for life. But not all annuities are exactly the same. So, before you make a long-term commitment to purchasing one, it is recommended that you first discuss all of your potential options with an annuity specialist.
That’s were Annuity Gator can help.
At Annuity Gator, it is our primary focus to educate consumers and financial professionals on how annuities work, and how they can provide stability in retirement – even if you need that income to last for 20, 30 or more years.
We can also help you to compare different annuities side-by-side so that you can determine what you may anticipate with each, and in turn, narrow down the one – if any – that could work the best for you and your objectives.
If you’re ready to learn more about how you can spend income in retirement, without having to run the risk of depleting assets, give Annuity Gator a call at (888) 440-2468. Or, set up a convenient time to chat with an annuity specialist by emailing us. We look forward to hearing from you.