What is your RISE Score?

Did you know that there is a Retirement Income Security Evaluation Score (RISE Score™) much like a credit score on a zero to 850 scale, but for your retirement. “The purpose is to provide you with an estimated measure of income security to help you determine whether you’re on track with your current retirement income plans.” “The RISE Score is also designed to help answer this simple question: How can my retirement security potentially be improved through the addition of lifetime income solutions in my retirement planning strategy?” Call us if you are looking for additional lifetime income. We know of some options you may not know about, and we’re are always here to help.

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LOOKING BACK ON RETIREMENT PREPARATIONS

Sometimes hindsight can provide a valuable lesson. While retirement is highly personal, I thought you might find it interesting to read the result of a study that looked back on what the financial preparations for retirement looked like. The study showed that among retirees who saved for retirement, the median age they first started saving was at age 40, and forty-six percent of those that participated in the study did not have a retirement strategy. We know how hard it is to save for retirement. Call us, we can offer out some options of where you can put your hard earned savings to provide you an income in retirement that you can’t outlive. We’re always here to help.

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EFFICIENCY

This week’s article tells us that “Annuities are one of the most efficient ways to generate guaranteed income. This is demonstrated through a series of three case studies which looked at combination strategies using both annuities and investments compared to traditional investments-only portfolios. The simulations found: Adding an income annuity to a retirement portfolio allows a retiree to get the same or higher income with lower risk of outliving savings than an investments-only approach; Income annuities allow a retiree to spend at a level that investments alone would be unable to match without significant risk of running out of money before age 95; Using both annuities and investments can enhance the value of assets for heirs over the long term. Ultimately, the research showed income annuities can help to better meet client goals in retirement than an investments-only approach in most situations.” Call us if you would like to become more efficient in your retirement planning. We’re always here to help.

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WHAT CHOICES WILL YOU HAVE?

This week’s article poses a familiar scenario and then tells us our choices in a very simple way: “Let’s say you have built up a retirement fund of $250,000 by the time you are age 65. Few of us realize that we have to make that money last for perhaps 20 or 30 years after we stop working” The author tells us that there are two ways to make your fund last for the rest of your life: you can make withdrawals that you guess and hope will last for the rest of your life, or you can take some of your money and buy an annuity that will provide you with guaranteed income payments for the rest of your life. Which are you thinking of doing? Call us if you’d like to talk about some options you may not have considered. We’re always here to help.

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DIFFERENT FOR WOMEN

This week’s article discusses three retirement savings factors relating to why it is different for women in retirement. While many of us may already have reflected on a female being projected to live longer than a male, we may not have noted that “women often face bigger challenges in retirement because of leaving the workforce to raise children or care for elderly relatives.” This challenge is often compounded by the reported likeliness of women who “place general costs, paying off debts and housing costs as a higher priority” than saving for retirement. These are issues that may effect all of us. Call us if you would like to discuss coming up with some ideas to better integrate savings into your retirement planning. We’re always here to help.

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YOUR MONEY AND YOUR LIFE

“An annuity can be a very smart retirement investment for many people. That’s not just because an annuity can provide a secure revenue stream — a monthly check — for the rest of your life, no matter how long you live.” The author of this week’s article tells us that “in general, most people should avoid “variable” annuities because they have high costs and their tax benefits are often overstated.” “But true lifetime ”fixed” annuities do make a lot of sense” and there are criteria to educate you on how to purchased them. If you’d like to learn more, let us know. We’re always here to help.

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UNDERSTANDING THE KEY ELEMENTS

I thought you would want to read this week’s article because it discusses that “while annuities and life insurance both have similarities, they are not the same. Before you can understand the differences and determine which plan may be right for you relating to a retirement income plan, you have to first understand the key elements of each.” We agree, and we like to make sure that explanations are clear and understandable. Call us if you have any questions. We’re always here to help.

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DIFFERENCES

This week I thought to share with you a chart that I found informative because it provides an easy to read explanation of the differences between Annuities and Life Insurance. Because one’s needs may change over time, it is important to be able to understand how each product might fulfill our objectives both in the present day, and in planning for the future. Call us if you have any questions. We’re always here to help.

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UNLESS YOU ARE WARREN BUFFET

This week’s author, formerly with the Federal Reserve Bank of New York and the National Bureau of Economic Research writes that while not applicable to Warren Buffet’s retirement plan, “Retirees with limited resources face the risk that if they live too long, and/or their assets earn less than expected, they will run out of spendable funds. There is also the risk that if they die too soon, and/or their assets earn more than expected, they will leave financial assets to their estate that they would have preferred to spend on themselves. Retirees exposed to these risks can reduce or eliminate them in only one way: by using some of their assets to buy an annuity, which pays them as long as they live.” Call us if you’d like more information on a product that might help you in this situation. We’re always here to help.

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WHAT IF THE MARKET GOES UP?

The author of this week’s article provides an explanation for “Why an FIA is better than stocks” and asks us “Which is better? Having to time the market right or not having to worry about that? Risking principal to achieve gains or achieving gains without risking principal? Having to worry about which stocks, bonds or funds to sell, or not having to worry about that? For many, the advantages of an FIA become overtly attractive.” Take a look at what he says and call us if you’d like to know more about the FIA. We’re always here to help.

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FEATURED ARTICLES

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One

Educate Yourself

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Two

Understand the Basics

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Three

Who's who in a Fixed Index Annuity

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Four

Understand the Benefits

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Five

Tax Deferral

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Six

Indexed Interest Potential

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Seven

Protection Benefits

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