This week’s article was interesting to me because it said that “buying an annuity that generates lifetime income could very well be a good move [for retirees] as a variety of studies show that guaranteed income often makes for a happier retirement. Not surprisingly, people seem to enjoy their post-career lives more knowing that they’ll have income they can count on no matter how long they live and regardless of the ups and downs of the financial markets.” I was also interested in the analogy the author made to social security saying that ”social security is itself a type of annuity, indeed, one designed to automatically boost its payments each year to keep pace with inflation (although if the inflation benchmark used by Social Security doesn’t rise, neither will payments, witness the fact that Social Security recipients won’t receive a cost-of-living increase in 2016).” Interesting way to think about it. Call us if you are in the process of trying to determine what your retirement income will be, and if you will be drawing down on assets to fund it. We’re always here to help.
WILL YOU BE DRAWING DOWN ON ASSETS IN RETIREMENT?
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This commentary was created by a third-party for the Agent’s use. NTM 08-27.