In the past, retirees typically relied on their employers to provide pensions during retirement. Along with social security and personal savings, employer sponsored defined benefit plans helped ensure retirees a decent quality of life during a retirement that was expected to last between ten and twenty years.
The landscape of retirement looks vastly different today. If you are like many Americans you may not have access to a traditional pension plan, and even if you are one of the lucky ones to have a pension, many companies are reducing benefits.
We are all aware of the uncertainty surrounding the future of social security today. Annual outlays for social security are projected to exceed revenues beginning in 2019. Inflation has averaged 3.5 percent since 1916 and then there is the always-rising cost of health care.
Since we are living longer and healthier lives today, we could be spending a lot of time in retirement, twenty or thirty years. Many retirees are looking forward to spending their retirement harvesting the fruits of their labors and living the dreams they’ve been working towards during their working years.
Many retirees may be hesitant to spend down their nest egg, because of the uncertainty of how long the money may need to last. With fewer and fewer guarantees, you want to know that your income sources will last as long as you do. Guaranteed lifetime income products can pay you a stream of income for as long as you live, no matter how long that is and no matter how the financial markets perform. Some guaranteed lifetime income products offer features such as inflation protection, emergency access to your money and legacy options.
Not only can guaranteed lifetime income help provide peace of mind in retirement, it can also help you optimize your income in retirement and plan the best use of your assets, so that you can live well. Call our office and reserve your spot at our free monthly “Lunch and Learn” session with Scott. This is a great opportunity to enjoy a delicious lunch, ask questions and receive free financial advise from renowned Adviser, Speaker and Educator, Scott R. Alexander, MBA, CLU, LUTCF, RFC.
For more information call 661-295-8338 or visit www.alexanderfingroup.com .