The editor of this week’s article wrote that “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. On top of that, the longer you live, the more you get what’s called a “mortality credit” as you outlive other people who bought into the annuity. The income gain from that can be many times greater than any other secure investment you’re likely to find.” To help explain the different

Now that it is May and tax season is behind us, it may be a good time to reassess how retirement has impacted or will impact your living expenses. This week I thought to share with you a chart that may help you with this assessment. “Your living expenses may increase or decrease at retirement but will likely not stay the same.” You can use this calculator to help compare living expenses that you have now to the day that you will retire. This may help you to plan your savings requirements accordingly. Call us if you need help in

This week’s article discusses the situation when a company offers to cash out the pensions of certain retirees and former employees and instead give them a lump-sum payment. In the past we have discussed the difficulty in being confronted with this type of situation. “For most retirees, a guaranteed stream of income for life is a better option than a lump sum.” But these types of situations require a thorough talking through to ensure that you are making the best possible choice from among your options. Call us if you find yourself trying to evaluate this or a similar situation.

A common concern when planning for retirement is the difficulty in knowing exactly how much income the retiree will have, and how long that income will last. It is also sometimes difficult to understand how different products work. Because retirees often choose to purchase an annuity with a guaranteed lifetime income to help them with this part of their retirement planning, I thought to share with you a short video that “breaks down the guaranteed lifetime withdrawal benefit that provides predictable income in retirement.” After you have watched it, call us with any questions you may have. We’re always here