In this week’s show, Jim Byrd and Biff Hamel get right into the income needs of many retirees:
- Spending habits change during retirement.You’ll need about 70% of what you formerly earned during retirement, on average. The first 5 years or so usually require more income than the next 10 or 15. People initially spend more, perhaps take big vacations during the first few years, but as time goes on, they typically spend more time at home, often with the grandkids.
- We have a new product that attempts to match those needs. It pays out more in the earlier years and lowers the payment in later years as expenses often decrease.
- Could the stock market crash again? We don’t know, but it is important to be prepared for the possibility. With retirement already a fact or coming up soon, it’s important to know your risk and options to prepare for it.
- Fixed index annuities are one option, and last year they averaged 14% with no risk. We all insure our houses and vehicles against the possibility of catastrophic damage. Wouldn’t it make sense to insure your retirement the same way?
- Seminars coming up in November– see our website to request a seat. Enjoy a nice meal, hear what we have to say and sign up for a free consultation.
Take advantage of our FREE consultation, and we’ll carefully analyze your current retirement plan and see if we can improve your retirement plans and lower your risk.
Call Safe Harbor Financial at 251-625-1226 to register or to schedule your free individualized consultation with Jim Byrd or Biff Hamel.Or simply fill out our Contact form and we’ll get back to you quickly.