WEATHERING THE STORM

This week’s article references a forum that was held this past week called “Weathering the Storm: Forum on Volatile Markets” which “discusses the challenges of today’s financial market, and more importantly, to explore ways Americans can plan for a secure retirement, despite market swings and ever-change workplace structures.” Call us if you would like to discuss some options for providing income in your retirement planning. We’re always here to help.

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ARE YOU FULL RETIREMENT AGE NOW OR IN THE NEXT SIX MONTHS?

We believe it is important for you to be informed, and wanted to provide you with this week’s article because it is time sensitive and discusses strategies phased out as part of the Bipartisan Budget Act of 2015. The article states that “Those who are full retirement age or those who will reach it in the next six months will still have the opportunity to file-and-suspend before the crackdown takes effect after April 29, 2016. Furthermore, anyone who was born in 1953 or earlier (or Jan. 1 of 1954) will still be able to do a restricted application for spousal (or divorced ex-spouse) benefits, even if the filing doesn’t occur until years from now.” We’re always here to help, so please call us if you want to talk about this strategy.

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BENEFITS GUIDE

If you’re anything like me, you may like to have hard copies of documents that discuss topics that are important to you so that you can refer back to them when you have questions. That’s why I thought to share this week’s article with you because it is an in depth resource guide to What You Need to Know When You Get Retirement Benefits. Take a look and call if you have any questions you think we can help you with. We always enjoy hearing from you.

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MANAGING RISK

This week’s article discusses managing risk with Fixed Indexed Annuities. The author writes that in “the past decade, the financial market has experienced extreme swings and with such volatility, Americans are rethinking traditional retirement income and investment sources.” Further, the author goes on to say that “many financial experts see this return to a high volatility market as being the new normal, with the expectation of another large market correction looming on the horizon, an inevitability driven by competing economic factors.” In response to this need for a way to protect savings from volatility over the long-term, the article identifies the Fixed Indexed Annuity as being a “product which allows clients to participate in gains generated within the market, while limiting exposure to losses.” Call us if you would like to learn more about this product. We’re always here to help.

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INCREASING INCOME WHEN THE ODDS ARE STACKED AGAINST YOU

This week’s article was interesting to me because it referenced recent articles that suggest “retirees refrain from withdrawing any more [from their retirement account] than they are allowed under required minimum distribution rules” and it went on to talk about at least two problems with this approach: One of them is that few retirees “have saved enough to limit their withdrawals without taking a severe hit in their standard of living,” and the other is that “the retiree may end up having been too frugal in the best years of her retirement while leaving an excessive estate.” Call us if you would like to talk about this, as we have some ideas we think may help in your retirement planning.

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HOW DO THEY WORK?

I read an article this week on “How do fixed index annuities work?” and thought to share it with you. The article explains that the money used to buy the annuity is invested by the insurance company and then the annuity goes into what is called the “accumulation phase”. This is where the annuity will “earn a fixed rate of interest that is guaranteed by the insurance company or an interest rate based on the growth of an external index.” With taxes being deferred on the interest until you receive the money, this means the money can grow faster. “After a period of time specified by your contract, you may then receive a lump sum, the money over a set period of time, or as income for the rest of your life.” Call us if any of these options work for your retirement planning. We look forward to speaking with you soon and are always here to help.

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MISTAKES PEOPLE MAKE

I was surprised to read in this week’s article that “the average 65-year-old couple will pay $240,000 in out-of-pocket costs for health care during retirement.” This expense, which many retirees underestimate, highlights how important it is to “consider retirement products that can ensure lifetime income so you can be prepared for unexpected medical costs.” Call us if you are interested in hearing about some options that might help you attain this goal. We’re always here to help.

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QUESTIONS ANSWERED

The first of six questions that this week’s article asks is “Am I investing in an annuity to save for retirement or generate guaranteed retirement income, or both?” Asking this question highlights the multiple roles that an annuity can play in your retirement planning, and answering the question will help you decide which annuity better suits your needs. Call us as you think through your plans, we are always here to help

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SHORTFALL OR SURPLUS

“One of the biggest risks to a comfortable retirement is running out of money too soon.” This week’s article gives you the ability to determine your projected shortfall or surplus at retirement by letting you see how long your current retirement savings will last. If your results are disappointing or cause you concern, call us. We can tell you about some options you may not have considered that may help increase your retirement income. We are always here to help.

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HAPPY BIRTHDAY

Did you know that 21 years ago Fixed Indexed Annuities were first introduced to consumers “as a key product for helping plan a secure, dependable source of income for retirement”?
Year in and year out, retirees seem to search for help in planning for a retirement they can look forward to, instead of worrying about out living their income. Call us as you begin your planning. We may have some ideas you haven’t thought about.

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