Will your savings last in retirement? This approach may help
January 20, 2021 by Chris Farrell
The fear strikes when retirement becomes a realistic option: Will I run out of money?
The question is pressing since corporate America abandoned pensions for 401(k)s. The 401(k) puts the risk on employees, including how much to invest and how much to withdraw during retirement. Figuring out how to invest in a retirement savings plan was hard enough, but the uncertainty pales to calculating how much you can withdraw from savings each year.
Click HERE to read the full story via Star Tribune
Wink’s Note: People are afraid if they will run out-of-money in retirement. Annuities can help.
However, the suggestion to delay taking payments from Social Security until age 70, by living off-of annuity income from ages 62+ is a relatively new concept for me.
I do not sell annuities. So, I am interested in how many of you use annuities within your practice for this sales idea? -sjm