Whether you’re trying to achieve that shared vision you and your spouse have for retirement or just looking to optimize your retirement income or savings strategy, chances are you can be one step closer by adjusting a few different variables. Even some small changes to your retirement plan can bring dramatic results. These may include changing the ages at which you and your spouse are planning on retiring, optimizing your social security income payout, protecting your assets from market risk or looking at different products to get income for life. Working longer combined with a few other strategies — such as maximizing your Social Security income payments — may enable you to dramatically improve your quality of life during retirement..
You may already know that by delaying social security you can increase your monthly payouts. What most people don’t know is by how much and how to work between you and your spouse’s social security to get the best mix for income. Social security can be confusing and complicated, so sitting with a financial planner or licensed insurance professional that understands social security may be the best way to figure this out.
Protecting retirement savings from downside market risk may be the single most important thing you can do to ensure that your retirement doesn’t fall through the cracks. A loss early in retirement may be crippling, and without the ability to continue working to build back that investment it can be difficult.
It may be wise to look into some types of financial vehicles that have an option for lifetime income. These can be used purely for income or for planning for the unexpected should a need arise during retirement that requires additional income. One option is an annuity with an optional rider. The BalancedAllocation Annuity™ has a unique interest crediting strategy called the Stacked Growth Option that doesn’t feature “traditional caps” on accumulation. That option grows at each year at the guaranteed interest crediting rate and the return from the BalancedAllocation Strategy™ selected is added to the income account value as well. The best part about this interest crediting strategy is at no time is your principal at risk from downside market loss as long as no withdrawals are taken.
Whatever your vision of retirement may be, we can help you get closer to your goals by making small changes for big impacts! It’s never too late to start planning, so pick up the phone and call us today.
The BalancedAllocation Lifetime Income Rider™™ [BAAIR2 (10/11)] or state variation, an optional rider for which a charge is deducted, is issued by Aviva Life and Annuity Company, West Des Moines, IA and is not available without the purchase of the BalancedAllocation Annuity® [BAA8 (09/09) and BAA12 (09/09)] or state variation. Product features, limitations and availability vary by state. See the Disclosure Summary for details. Respond and learn how life insurance and annuities can be used in various planning strategies for retirement. This material is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. 19297_265242
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