Three Core Principles
Keep it Simple
Planning for Retirement Should be Simple
The amount of information available can be confusing when trying to plan for retirement. Knowing where to put money safely can be challenging. Moreover, there are several types of policies that cover a variety of products. These include traditional IRAs, Roth IRAs, 401(k)s, 403(b)s, etc. Planning for retirement can seem like a complex process.
Planning For Retirement Can Be Simple
Despite the wide range of retirement options available, retirement doesn’t have to be complicated. Also, during the accumulation phase, riding the highs and lows of the stock market is one thing. However, when approaching retirement or while retired, it is quite different. Market fluctuations may result in some losses. And, your retirement nest egg might be at risk. That said, retirement is a time to protect your assets.
The process can be simplified. A fixed index annuity (FIA) or indexed universal life insurance (IUL) can offer greater protection than some other products. Both can provide guaranteed* lifetime income and reasonable rates of return.** Just one or two products could potentially protect your principal and earn you a reasonable return.**
Retirement Put Into Simple Terms
Review your retirement policy in detail as you near retirement. Make sure you’re well prepared for your retirement. Many people don’t understand their statements or where their money goes. Additionally, you may be concerned about how the market will affect your retirement.
You need a strategy that protects your earnings.
Planning for retirement should take into account the following factors:
- What happens if the market declines? Is my money safe?
- What are the risks associated with my current accounts?
- How much is my net worth?