Annuities Archives - Page 3 of 16 - Jerry Golden on Retirement

Retirement Planning Job #1: How much income can your savings generate?

July 25, 2018 By Jerry Golden in Income Power Tags: Annuities, produce income, save money

People planning for retirement often approach me, in person or through my blog, and ask questions about whether they have enough money to retire, hoping I can ease their minds or make life easier for them.

One client recently asked: “I’ve got 10 years to go before retiring. I’m contributing at the max to my 401(k). Can I afford to retire?”

Contributing as much as you can to your 401(k), or other savings vehicles, is an excellent start. To fully answer my questioner’s query, though, I directed him to Income Power. It gave him an idea of how much income he can generate from his current savings. (Congress is working on a bipartisan plan to make this retirement information mandatory for 401(k) plans.)

With this piece of good news, we talked about lots of options for his retirement income plan.

Feel free to contact me at Ask Jerry with questions about your own retirement.

Earn up to 20% more in retirement with income allocation

June 19, 2018 By Jerry Golden in Annuity Tags: Annuities, Dependable spendable income, Guaranteed Income, Income allocation, retirement income

Income will determine whether your retirement is financially successful.

When you have enough income, you feel more secure. You worry less. You can spend more time doing what you want with people whose company you enjoy.

And from an investment perspective, you’re more likely to “stay the course” and not jump out of the market.

A new study shows how an income allocation strategy beats the traditional strategy of asset allocation, and delivers that additional income with less risk. Here’s a good description of the income allocation strategy.

The study examines different risk profiles for a 70-year-old male or female who, over the rest of their lives, will generate more income, lower volatility and a higher economic return when an income allocation strategy is implemented. Implementation for your age and risk profile will need to be customized, of course, to your personal circumstances.

For a free, no-obligation copy of my income allocation study, send a request to Ask Jerry.

Choose the right advisor for the center of your retirement plan

May 9, 2018 By Jerry Golden in Two-stage retirement Tags: Annuities, Estate planning, Guaranteed Income, retirement advisors, Social Security

Who is at the center of your retirement income plan? Do you decide randomly how to build your retirement, or do you choose the best options after careful thought and research?

Most people would say they are thoughtful and decisive, but the facts often prove otherwise.

In reality, among the several advisors we need — for money management, tax, insurance, real estate and more — the one we are most friendly with rightly or wrongly influences our decision-making.

There are plenty of reasons to choose one advisor over the others. One may simply strike you as more experienced. Or perhaps your kids attend the same school. Maybe you just click better with them.

It’s good to have friends, but that’s not the best way to plan for the rest of your life.

A multi-faceted team for retirement income

Too many financial advisors ask the wrong question

April 24, 2018 By Jerry Golden in Income Power Tags: Annuities, Baby Boomers, Income power, retirement income

Baby Boomers are the 401(k) generation.

When Boomers started working, nearly every major company offered some form of pension providing lifetime income. Now, as members of this cohort are retiring in large numbers, pensions are nearly extinct outside of government employers.

The 401(k) was invented 40 years ago and now shares the retirement landscape with Social Security. Many Boomers have a good amount of money in their 401(k) accounts, but that doesn’t mean they can stop planning. In fact, this is when critical retirement planning begins.

Can you answer the question?

Annuities: The “bad,” the “good” and the “misunderstood”

March 26, 2018 By Jerry Golden in Annuity Tags: Annuities, Baby Boomers, Go2Income, QLAC, retirement income

For some investors, annuities have an image problem. Read the headlines on the advertisements from a few marketing-focused financial advisors to understand why. They often include words like scary, avoid, and often just plain “bad.”

The problem with this characterization is the total failure to distinguish between the broad categories of annuities and to analyze the features of each. As I said in a recent seminar, you don’t drop your life insurance because you are unhappy with the claim adjuster on your automobile insurance.