It’s no secret that there’s an abundance of retirement solutions out there, which is why selecting the best ones for your personal situation is so difficult. Consider whether a fixed-indexed annuity may suit your retirement needs. With low CD and money market returns lately, fixed-indexed annuities have become quite popular. Because many of these annuities cannot lose value in a particular year, they’ve also become a desired asset in some retiree’s portfolios.
Fixed indexed annuities are considered protected assets in which your principal is protected, meaning they can’t lose value. This can serve as a guaranteed, protected income stream. However, you must be sure that you are invested with a highly rated insurance carrier and take into account any downsides of fixed-indexed annuities. Make sure you consider a policy that can increase its payout over time if you need inflation protection. Consult your financial advisor to see if/how a fixed-indexed annuity fits into your financial plan.
If your cash flow is strong, and you are still years from retirement, an indexed universal life policy may be a way to provide tax free cash flow later in life. Indexed universal life policies are often relatively low priced and have flexibility as it relates to death benefits and optional riders. They also accumulate cash value that can pay insurance premiums, and offer a permanent death benefit. While not for everyone, if you meet the criteria, an indexed universal life insurance policy can provide you with security and a potential for earning interest that is permanently tax free.
These are just two of the many products that can best suit your retirement needs. It is important that you work with your trusted advisor to completely vet out every retirement solution and understand how certain ones can positively impact your life in retirement. Click HERE to schedule your complimentary, no obligation financial review.
