Are You Afraid of Outliving Your Money?
With all the advancements in medical technology, prescription drugs and health programs, our senior population is living longer and are in better health. With the increasing longevity of people who have already reached retirement age, many seniors are beginning to worry about outliving their money.
The Fear of Outliving your money can be a burden, in your retirement years. Because you don’t know how long you’ll live, it’s hard to be sure your money will last as long as you need it to. If you withdraw too much of your nest egg, your future income can suffer or you may run out of money entirely. If you are too thrifty when it comes to spending your nest egg, your level of living may suffer. Immediate Annuities can remove some of these burdens, so you can concentrate better on enjoying your hard-earned retirement.
Immediate Annuities can provide a dependable stream of income payments guaranteed to continue for the rest of your life. They also offer a wide variety of options for different situations.
Some of these options are:
• Lifetime Income for You. You can opt for income, guaranteed by the insurance company, for the rest of your life. Payments cease upon your death.
• Lifetime Income with a Guaranteed Period. You will receive income guaranteed by the insurance company for life. If you die before the guarantee period is over, your beneficiaries will receive the remaining number of payments.
• Lifetime Income for 2. You can opt for income guaranteed for the rest of your life and the life of another person, such as your spouse. Guaranteed income for two people is known as a joint and survivor option, which guarantees that income payments will continue for the life of the primary owner and a second person.
There is nothing worse than to have your money expire before you do. So think about your situation. Plan ahead for the future and the quality of your life during retirement. Now is a good time to do a retirement plan check-up. Please contact me today, so I can help ensure you are getting the most out of your retirement, and alleviate any fears of outliving your money.