What a great concept. GUARANTEED INCOME FOR LIFE! . A specific amount of money flowing into your pocket or checking account every month for the rest of your life. JUST THINK OF IT! For many during retirement this will be experienced due to the government program called Social Security. Some fear it will start to decline in value by year 2033 if something creative isn’t done to help fund the program for many more years. Another great concept to provide for Guaranteed Lifetime Income is a PENSION! Does your company offer a retirement pension providing you with Guaranteed Lifetime Income? Some people will have this benefit and many people will not. Many who will, have concerns about the stability of the fund and the risk to the investment accounts they are situated in or the financial condition of the company they have worked for so many years. What about the city of Detroit?
For most of us, we will be totally dependent on all we have earned and saved and what we have grown in our respective 401K, 403B, 457 Plans, IRA’s, Roth IRA’s, Credit Union accounts. Along with any other accounts earmarked for use during our well deserved retirement years. For a while we can count of Social Security as a supplement to our retirement needs and for those with Pensions, can feel good about additional flowing funds. However, for most retirees and soon to be retirees they will have to carefully spoon out there funds to make sure they last for a lifetime or even two lifetimes.
How can we protect from running out of funds? Or stated a better way. How can everyone have a Guaranteed Income for Life? If you think about Social Security and Pensions, “what are they”? They are the only real strategy that provides for Lifetime Income Guaranteed! They are each an Annuity!!!
A Single Premium Immediate Annuity, provides an income immediately for life when you transfer a specific one time value to it that generates a specific monthly amount that suits your needs.
A Tax-Deferred Fixed Indexed Annuity with a Guaranteed Income for Life Rider, allows for a specific amount of funds be transferred for safety and growth with no risk to the principle with the intentions of drawing a Lifetime Income in future years.. This program can offer Inflation protection features as well as a joint payout option if desired even if the account value spends to zero.