Limit risk in your retirement strategyHaving a retirement income strategy with the capacity to meet your financial needs during your golden years is a goal that most workers wish to achieve. Unfortunately, without confidence in your financial decision-making, your strategy could become stagnant or even begin declining in value.
To help avoid this, it's necessary that you take the time to regularly assess the strengths and weaknesses of your financial assets. Though you want to have an adequate number of different types of assets, not keeping a close eye on your strategy can leave your financial future up in the air.
Re-evaluating your assets every so often will help you make any corrections or to rebalance for greater financial stability. You can do this based on a set timeline or by setting predetermined thresholds based on market conditions.
"In your later years, you're looking for guaranteed*, stable retirement income."
Due to factors like inflation and interest rates, your beginning balance of assets could be quite different at the end of the year. Allowing this variation to continue over a longer period of time could perhaps create a situation where you're not truly controlling how your assets are growing.
Transition toward more protected assets
While in your younger years, you were focused on accumulating wealth, now things are changing. When you retire, your steady paycheck – your normal stream of income – will stop, and it’s time to think about how you can use what you have accumulated and how you are going to make it last
That's because in your later years, you're predominantly looking for guaranteed,* stable income that can be counted on rather than the potential for huge rewards on a risky bet. It's best to transpose some of your assets toward protected financial vehicles, with benefits that are accounted for and can be relied upon.
By reducing your susceptibility to risk, you are helping to ensure your financial future isn't derailed. For additional income, an annuity can help provide monthly payments on your own terms.
Get in touch with one of our licensed insurance professionals at J.D. Mellberg to find the best retirement income strategy for your needs. Be more confident you will not outlive your money with lifetime payments from the right annuity option.
Call us today at 1-877-805-0151.
By responding to this offer you may put in touch with a licensed insurance agent regarding retirement income strategies using fixed insurance products. J.D. Mellberg Financial is insurance licensed in all 50 states (AR8771938/ CA0K73712/ TX1908101) and all producers of J.D. Mellberg Financial have the appropriate licenses for the products they offer.
*Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurance company and are not guaranteed by any bank or the FDIC.
**Some annuities may have a lifetime income guarantee as part of the base policy; others may have riders available that provide this benefit. Riders may also be available for benefits like an annual increase to help combat inflation or for as much as doubling your income in case of a qualifying health event. These annuities are not long-term care and are not substitute for such coverage. Optional riders may be available with a charge.