To develop a financial strategy for your future, it’s important for your financial professional to see a complete, 360-degree view of your financial picture, including how your retirement assets are integrated and work with one another. Our financial strategies and asset management services use insurance products, such as annuities, to help you meet financial goals. We can work in concert with tax professionals or attorneys in your or our network to advise you on specific aspects of your financial strategy.
Retirement income strategies are for people of all calibers. As retirement nears, the traditional strategy has been to move growth-seeking products to more conservative, fixed-income products. According to a recent study by the RD Marketing Group, for a married couple age 65 there is now a 50 percent chance that at least one spouse will live to age 94.1 As a result, this could mean that you need to plan for your retirement savings to potentially last 25 to 30 years.
One drawback to a longer life is the greater possibility of outliving your savings and creating all the more reason to develop a retirement income strategy designed to last a longer lifetime. Sixty-one percent of Americans surveyed said they were more afraid of outliving their assets than they were of dying, according to the State of the Insured Retirement Industry: 2012 Recap and a 2013 Outlook, Insured Retirement Institute.
A significant loss in the years just prior to and/or just after you retire could negatively impact the level of income you receive over the course of your life. In fact, if a loss occurs earlier in life, there is also the chance that you may have more time to recover versus a loss occurring later in retirement. Why is this? Simply because a smaller pool of assets is left to sustain you throughout your retirement years and your assets may not have as much time to recover.
As a firm we can help you design a guaranteed* retirement income strategy that incorporates insurance and annuity vehicles to create opportunities for long-term growth as well as guaranteed* income throughout your retirement.
Prepared by Ernst & Young Insurance and Actuarial Advisory Services practice. The analysis uses the Annuity 2000 mortality table with Scale G2 mortality improvements.
2 State of the Insured Retirement Industry: 2012 Recap and a 2013 Outlook, Insured Retirement Institute
* Guarantees are backed by the financial strength and claims-paying ability of the issuing company and may be subject to restrictions, limitations or early withdrawal fees. Annuities are not FDIC insured.
Your investment advisor is not permitted to offer, and no statement contained herein shall constitute tax or legal advice. You should consult a tax or legal professional on any such matters.
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Jared M. Elson and Donald B. Bergis are Investment Advisor Representatives. Investment Advisory Services offered through Global Financial Private Capital, LLC, an SEC Registered Investment Adviser. Insurance products offered through Regent Financial & Insurance Services, LLC.