The biggest fear of retirees is outliving their money. In the
past, people could live on social security and interest on their savings
because the rates of return were in the double digits. With the current 1% or
2% rates of return, there is a strong possibility that you will have to invade
the principal of your savings. This could prove to be catastrophic if you live
too long. How much of your savings must you deplete each year to maintain a
standard of living that is acceptable to you? Yes, there are surrender charges
with annuities, but this typically applies if you take more than 10% per year.
How many people are going to spend more than 10% per year of their qualified
retirement plan?
Where can you get the
potential for an inflation-beating return and have 100% protection against
market risk of not only your principal, but also of all your previous years of
gains? For the past 17 years, our clients have enjoyed the guarantees annuities
provide, along with the upside potential of market indexes. With the wave of
new products hitting the market the Fixed Index Annuity marketplace is making
huge inroads with American’s. What product do you feel suits you best?
Sometimes, it’s a variety of strategies depending on your risk tolerance.
I regularly show people the miracle of FIAs - it is about what is best
for you!
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