What is Income for Life?

With an income for life, you can retire with confidence, knowing your income is protected, regardless of what is happening on Wall Street. In a goals-based retirement plan, it is not about the size of your retirement savings, it is about what your money can do for you. People don’t retire on assets, they retire on income.

Are you looking for Peace of Mind?

Years ago, you could retire with a pension and Social Security to cover your basic expenses. However, with pensions being frozen or disappearing, Social Security alone is insufficient to cover those expenses. What you may need is an inflation-protected income for life to cover at least your essential expenses.

“If I need money, I’ll just pull it out of savings”

Income for life is not a random unplanned account withdrawal or Required Minimum Distribution (RMD). Income for life is a regular monthly check, like a pension or Social Security pays you. Assets can be overspent, lost, stolen, swindled, sued, divorced, or disappear in a market crash. I believe your retirement lifestyle should be about income first, followed by assets.

Your nest egg can provide you an income for life

I help my clients focus on satisfying their needs and wants, not on trying to earn x percent that cannot be guaranteed.

• How will you create an income that will last a lifetime?
• With rising healthcare costs, inflation, and taxes, how will you protect your future purchasing power?
• Will market uncertainty and low-interest rates have an impact on your retirement income?
• What's important about money to you?

How I can help you

Your income plan starts with a plan and the advice of a trusted, experienced and qualified financial professional who sees your total financial picture. You need someone who can help you define your life goals, establish the right financial plan, and provide strategies to focus on your needs, and help you stay on track.

What that means is:

I help people accumulate and protect their wealth, then convert that wealth into a lifetime retirement income. In some cases, convert wealth into a legacy for their loved ones. You worked hard for your money. You deserve a regular paycheck and maybe even a playcheck.

How I create Income for Life for You

Guaranteed income for life is made possible with Longevity Credits, also known as mortality credits. Longevity credits can only be found at insurance companies. Insurance companies provide a variety of income-producing contracts or lifetime income riders to chose from.

How does that work?

When you want a lifetime income payout, you (or you and someone else) enter into an agreement with an insurance company. You agree to leave your money on deposit with the insurance company, and the insurance company agrees to pay you a lifetime of income. Each plan is different, and each has different features and benefits. Guarantees of lifetime income annuities are subject to the claims-paying ability of the insurer.

The only thing worse than dying is outliving your money

Most failed and unsuccessful retirement plans are market-focused and performance-driven. Successful retirement plans are goal-focused and planning-driven. There are no do-overs or second chances in life or during retirement. Do you know exactly how much money it is going to take for you to be retired comfortably and maintain that lifestyle you desire throughout your retirement? Please contact me if you would like me to help you figure it out?

In Conclusion:

Focusing on the size of your stack of cash is important while you are working. The plan that gets you to retirement is not the plan that will likely get you through retirement. But at or near retirement you need a strategy to convert your assets into an income you cannot outlive to maintain the lifestyle you want to enjoy in retirement.

Finally

If you are at or near retirement, and you have any questions about setting up an income for life or just need a little guidance, feel free to contact me. I know planning for the retirement lifestyle of your dreams with an income that lasts as long as you do can be confusing, so it is important to get the facts before you make any long-term decision.

My focus is to have the heart of a teacher, not the attitude of a salesman. I don't like to be pressured to buy anything and neither should you. My professional retirement planning services are 100% objective and free from proprietary products and sales quotas. Let's make a plan.