The message seems to be quite constant when meeting with perspective clients getting closer to retirement. Will I/we have enough? Many will benefit from more guaranteed income if your monthly income needs exceed your income sources. Planning for today and down the road, seems to need financial solutions that fit your life.

Managing the fundamental retirement risks such as:

1. Lifespan- Living longer and outliving your retirement money.

2. Inflation- Cost of living increases that erode your retirement buying power.

3. Fluctuation- Market volatility that can dramatically impact your retirement assets.

4. Experience- Life events that require retirement plan flexibility.

Not always is working, saving and preparing for retirement enough. Once in retirement you need a plan that will preserve your assets while securing an income that gives you choices and confidence. Ask yourself at what rate can you safely withdraw from your portfolio to address these risks? How long will the funds last?

What are the Lifetime Guaranteed Income Sources available to you?

1. Social Security

2. Pension Benefits

3. Retirement Savings

4. Your own 401K account

A big concern occurs when there is a shortage in income and it may require you to spend down too much of your personal assets to make up the dfference. Make a list of your investable assets and determine whether a portion from these accounts should be earmarked for guaranteed growth with no risk  and when needed to turn on another guaranteed income stream that you can not outlive.

Don’t under estimate the value of your Social Security Benefit. Get the facts and make the best choice to maximize your lifetime benefit.