Annuity Archives - Page 19 of 25 - Jerry Golden on Retirement

Live long and prosper – with a deferred income annuity

July 19, 2016 By Jerry Golden in Annuity, Social Security, Two-stage retirement 3 Comments Tags: retirement income, Social Security, two-stage retirement

Planning for old age is good. That is why I like income annuities as part of a retirement plan: because they guarantee income through your entire life, no matter how long you live.

It turns out, though, one reason people don’t buy income annuities is that they don’t like thinking about old age (and especially the end of old age). Several studies that looked into why more people don’t buy these products found that the language to describe income annuities caused potential buyers to close their computers, walk away from their desks, and promise to think about retirement another day.

Emotionally, I get it. I want to live forever, too. But the evidence is overwhelming that I will have to settle for a long and happy life, not an endless one. More

A smart mix: Family vacations and a check up

July 13, 2016 By Jerry Golden in Annuity, Two-stage retirement Tags: Annuities, retirement income, Social Security

Summer vacation is the perfect time to visit with family you haven’t seen in awhile as you enjoy the leisure activities – and check up on how your parents are really doing.

Most of the time, everything will be fine. Dad might walk a little more slowly and perhaps mom tires more easily, but it’s great to get together year after year.

At some point, though, maybe you notice something more troubling – one of your parents is having trouble remembering, or a sudden weight loss has been ignored. That’s when the squeeze begins for the sandwich generation, with the difficult and complex steps you need to contemplate, including figuring out their financial and living situations.

You may find they haven’t been paying all their bills or medical costs might loom that threaten to deplete their savings. Thank goodness you are there for your parents. It will be a trying time for you, but in many cases it would be impossible for them without you. More

Market volatility works against retirement stability

July 5, 2016 By Jerry Golden in Annuity, Social Security, Two-stage retirement Tags: Annuities, Guaranteed Income, retirement income, Social Security

The new financial and political challenge known as “Brexit” is a good reminder that your plan for the late, or second, stage of your retirement should not depend on the stock market.

In the two days following Britain’s vote to exit the European Union, the Dow Jones Average plunged 800 points. The markets have since rebounded, but here’s the question you ought to ask yourself:

Will I feel secure in my retirement if my savings are fully invested in financial products that swing so wildly and unpredictably? More

Rethink Your Plans for Retirement — Split into Two Stages

June 28, 2016 By Jerry Golden in Annuity, Two-stage retirement Tags: Annuities, Guaranteed Income, retirement income, Social Security, two-stage retirement

Sometimes we only get serious about planning for retirement when we hit a bump in the road that reminds us about the consequences of being unprepared.

In the video below, Sam and Sally realize their own retirement plans aren’t adequate when Sally’s parents run into problems later in retirement.

Thinking about retirement as a two-stage process can help you deal with what is often our greatest fear: Running out of money. More

Plan for a retirement of success with guaranteed income

June 14, 2016 By Jerry Golden in Annuity 2 Comments Tags: Annuities, Baby Boomers, Guaranteed Income, retirement

None of us intentionally plans to fail.

We don’t intend to falter, even when we embark on difficult quests, such as retiring with enough income for the rest of our lives.

However, sometimes we fail to plan and, as Benjamin Franklin reputedly said, anyone who does that really is planning to fail.

Consider this scenario: You come home from work with good news. You got a raise! If – when your spouse asks what your new take-home pay will be – you answer, “It depends,” you’ve got an issue, because it’s impossible to plan for how much you can spend and save.

Annuity

Live long and prosper – with a deferred income annuity

A smart mix: Family vacations and a check up

Market volatility works against retirement stability

Rethink Your Plans for Retirement — Split into Two Stages

Plan for a retirement of success with guaranteed income

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