Will You Have Guaranteed Income Streams in Retirement?
In retirement, you have options for guaranteed income. Retirement isn’t like it used to be, and with fewer sources of guaranteed income from employers, it’s important that retirees fill these voids and have money to spend on a monthly basis. Outside of company pensions, cash flow can be found from annuities with guaranteed lifetime cash flow, paid-off rental properties, dividend-paying stocks, installment contracts, and Social Security benefits.
Do you have a plan to generate an income stream for as long as you live? One of the biggest challenges retirees face is when the time comes to switch from generating and saving your wealth, to supporting yourself with it. You must have a specific strategy in place when transitioning from the accumulation to the distribution phase of your retirement plan.
To learn more about guaranteed income for your retirement, be sure to request your no-cost, no-obligation financial review.
It’s also important to understand how stocks, Mutual Funds, or ETF’s offering dividends fit into your portfolio. Many corporations pay out a percentage of their profits as a dividend, or a sum of money regularly paid out to investors. In certain cases, the dividend payouts can exceed 5% per year. Beware of having too much invested in too few companies or too few sectors. Before the crash of 2008, the best dividend payers were banks and real estate stocks, but it was these two sectors that took the biggest losses in value.
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Neither the named representative nor the named Broker/Dealer or Investment Advisor gives tax or legal advice.
Fixed index annuities are designed to meet long-term needs for retirement income. Early withdrawals may result in loss of principal and credited interest due to surrender charges. Distributions may be subject to ordinary income tax and, if taken prior to age 59 ½, an additional 10% federal tax. An income rider or benefit (sometimes called Guaranteed Lifetime Withdrawal Benefits, or GLWB) is an additional feature available with some annuities and generally optional and come with additional cost. Income benefits are designed to provide income options above and beyond the standard annuitization or free withdrawal features in annuities. All contract gains beyond the CAP rate are surrendered to the insurance company to pay for the expense of the product.
The views expressed are not necessarily the opinion of Royal Alliance Associates Inc, and should not be construed directly or indirectly, as an offer to buy or sell any securities mentioned herein. Individual circumstances vary. Investing is subject to risks including loss of principal invested. No strategy can assure a profit against loss.