According to the Government Accountability Office (GAO), a husband and wife both aged 65 have approximately a 47% chance that at least one of them will live to his or her 90th birthday and a 20% chance of living to his or her 95th birthday. As life expectancy continues to climb, the fear of outliving one’s assets has become top-of-mind for most Americans. Today, it’s becoming more important than ever to put retirement strategies in place that guarantee lifetime income.
The GAO’s June 2011 report to the U.S. Senate’s Special Committee on Aging specifically called for considering an income-generating annuity as part of an investor’s overall retirement plan:
Why an annuity instead of a lump sum payout? Annuities provide guaranteed lifetime income and you owe it to yourself to learn more.
An easy way to see if your retirement income strategy measures up is to order to request a free Income for Life Illustration. Your Income for Life Illustration shows you the top 3 income generators tailored specifically to you. With this information, you’ll know without a doubt what income you can expect during your retirement years.
Or, call us at 866-904-4700 to talk more about whether it makes sense for you to convert a portion of your savings into an income-generating annuity. With thoughtful and careful planning we can help you stop worrying about your retirement security, and instead, focus on enjoying a secure retirement.
Annuity product guarantees rely on the financial strength and claims-paying ability of the issuing insurer.
Cathy DeWitt Dunn of DeWitt & Dunn, LLC, is the driving force behind Women Money & Power. With decades of experience in the financial services industry, Cathy has dedicated her practice to educating clients on how to take maximum advantage of financial solutions that are not available in traditional brokerage houses. Cathy is proud to be on the forefront of innovative financial solutions for the individual investor.
This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. Please consult with a professional specializing in these areas regarding the applicability of this information to your situation.