GUARANTEED LIFETIME INCOME

What if you had a guaranteed income for as long as you live? How would that change your life?Even aside from the obvious financial security that assured monthly income can bring, payouts that are guaranteed not to go down no matter how much the market may fall can also yield valuable emotional and psychological perks. A variety of studies and surveys show that retirees who have guaranteed monthly income in the form of a pension or annuity tend to be happier in retirement than those who don’t.

WHAT ARE YOUR RETIREMENT INCOME OPTIONS?

IMMEDIATE INCOME :

Example – 65 year old female with $ 900,000 IRA or portfolio can receive $50,000 annually for as long as she lives, contractually guaranteed. First $45,000 annual payment can start as soon as in 30 days. Income will not decrease from market volatility or losses. Remaining assets pass to beneficiaries.

DEFERED INCOME :

Example – 60 year old male with $600,000 IRA or portfolio can receive $47,000 of contractually guaranteed lifetime income at age 65 or $60,000 of contractually guaranteed lifetime income at age 70. Income will not decrease from market volatility or losses.Remaining assets pass to beneficiaries.

INCREASING INCOME :

Example – Male age 70 has $500,000 of assets wants to immediate income that will increases if his account increases. He will receive $25,000 annual income immediately, contractually guaranteed for life. If his account increases by 5% his income will increase to $26,083 guaranteed for life. If his account increase by an additional 10% his income will increase to $28,875 guaranteed for life. First $25,000 annual payment can start as soon as in 30 days. Income will not decrease from market volatility or losses. Remaining assets pass to beneficiaries.

PLAN FOR BENEFICIARIES :

Example – Female age 63 has $525,000 in savings. Does not need income now but wants the option for contractually guaranteed lifetime income in the future. At age 75 she is contractually guaranteed to have $1,029,000 in income value, not available in a lump sum, to provide her $66,000 of guaranteed lifetime income or when she dies to pass the $1,029,000 to her beneficiaries in 5 equal payments plus interest.Income will not decrease from market volatility or losses.

MAKE UP FOR PAST LOSSES OR INCOME TAXES :

Example 1 – Female age 70 has $800,000 in assets, he wants to recover from previous losses of $200,00 before starting to receive income payments Example 2 – Female age 70 has $1,000,000 of real estate that would cost her $200,000 of income taxes if she sold, netting her $800,000. For both people, $800,000 is contractually guaranteed to grow to over $1,000,000 for income purposes in 36 months, recouping past losses and income taxes. At age 74 they each will receive $54,000 annually of contractually guaranteed lifetime income. Remaining assets pass to beneficiaries.

If you have questions, concerns, or need help making an informed decision about your future retirement income, ensuring your assets are protected and you never run out of money, we will be happy to review your options with you. Schedule a free, no obligation meeting with one of our financial advisors.