Annuities Archives - Page 2 of 16 - Jerry Golden on Retirement

The Retiree’s Trilemma: More Spendable Income, Less Risk, or More Legacy?

January 4, 2021 By Jerry Golden in Income Allocation Tags: Annuities, financial legacy, financial risk, Income annuities, inheritance for family, retirement income, retirement savings

With Go2Income’s Planning, Lower Fees, and Lower Taxes, You Can Get All Three

Our wish is for the New Year to bring less chaos and disruption and more satisfaction, even as we acknowledge that many of those hoped-for gains will require new thinking and energetic approaches.

Come with me as I examine some new thinking when it comes to your retirement finances.

For a long time, it was thought that an encyclopedia could not at once be authoritative, comprehensive and current. At least one of the three important qualities had to give.

New ideas take patience and perseverance to become self-evident

July 1, 2019 By Jerry Golden in Annuity Tags: Annuities, guaranteed lifetime income, retirement income, tax benefits

The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man. – George Bernard Shaw

After four decades of inventing financial products that help people figure out how to retire comfortably, I am accustomed to the resistance these new ideas face. Please forgive me for trying to adapt the world of financial products to what I believe retirees and pre-retirees need.

As I’ve written about in this blog, I often critique financial advisers of all types who insist that their clients adapt their plans to the confines of whatever options the adviser’s business model supports. When it comes to retirement income planning, that model usually involves a pie chart of asset allocation, and a market simulation of when your income runs out.

From Jerry’s Desk:

May 3, 2019 By Jerry Golden in Annuity Tags: Annuities, From Jerry's Desk, retirement income

How I Designed My Own Retirement Plan

I have lots of experience in the insurance and retirement industries. While the knowledge gained in those experiences enables me to offer Go2Income’s unique retirement income planning solutions, it’s one thing to espouse a point of view, and quite another to put it into practice. With success.

In this new monthly series, From Jerry’s Desk, I will share my personal experience and the strategies (but not my personal numbers) that I have implemented for myself and my family.

Securing income first is a philosophical – not numerical – approach

“Income first” has allowed me to “retire” from corporate life and start a new business – Go2Income – with the hope of helping others secure the retirement they want, from travelling to finding the perfect lifestyle and even being an entrepreneur.

Choose the best way to retire with enough income

October 9, 2018 By Jerry Golden in Annuity Tags: Annuities, Dependable spendable income

A common recommendation for retirees is to cut back on spending if they don’t have enough savings to pay for essential expenses. A recent study by the Employee Benefit Research Institute (EBRI) shows that only 60% of U.S. residents between the ages of 35 and 64 are on track to cover 100% of the average costs for retirees.

But cutting back spending is not your only option.

You can also buy income annuities — with savings you have now. Then you can count on a guaranteed and likely higher amount coming in every month, including in later years when home care and large medical bills are more probable. You will take on the survival risk in the process but that may be preferable to reducing your lifestyle.

My point is this: While you can theoretically cut your spending to avoid running out of money, as EBRI pointed out in its study, that isn’t the only solution. You can also increase your income and enjoy the type of retirement you imagine.

Visit Go2Income for more ideas about how you can increase your retirement income.

Develop a plan for income allocation to truly simplify retirement

August 14, 2018 By Jerry Golden in Annuity Tags: Annuities, Guaranteed Income, retirement income

The Vanguard Group made news recently when it announced it would reduce the number of funds available to its investors. The goal, the fund said, is to minimize confusion.

Jack Bogle, the legendary finance expert who founded Vanguard (but who no longer runs it) said in an interview with Fox News that the fund could reduce the number even further.

“You could run a retirement plan with three or four choices: a stock index fund, a bond index fund [and] a balanced index fund,” Bogle told Maria Bartiromo.

Bogle earned his fame by simplifying the investment equation for everyday investors trying to save for retirement. So I won’t disagree with him, but I will add a line or two to his formula.

While Bogle is concentrating on accumulating savings through asset allocation – which is good as far as it goes – I want investors to develop a strong income allocation plan at and after retirement. This way, their savings will provide enough income throughout their retirement.

To create that income allocation plan, you need to add income annuities as a new asset class to the funds that Mr. Bogle suggests.

Learn more about income annuities at Go2Income.