5 financial strategies for the future paid Impact_Partner
I was very fortunate to know at a very young age what I wanted to do and accomplish in my professional career.
A 401 program replaces some defined benefit plans and ultimately transfers more of the market volatility and risk to the retiree. In either case, 401 plans have a possibility of their cash values being depleted, leaving the retiree and their families without any income in retirement. Needless to say, those nearing or in retirement would greatly benefit from familiarizing themselves with changes made by the financial services industry, in conjunction with Congress, to replace some pension plans.
The more recent market crashes of 2001 and 2008 decimated the financial hopes of some people nearing retirement and already in retirement. As a retirement financial advisor, I witnessed how fixed indexed and variable annuities helped protect my clients’ retirement plans. I became a believer in these products and came to think of these products as cornerstones of sound retirement portfolios.
You’ve worked hard over decades, accumulating wealth to provide a comfortable standard of living in retirement. Plan carefully and be informed of the latest financial strategies available to you. In retirement, it is a great idea to review at least annually your portfolio to be sure it’s still satisfying your needs and if designed appropriately can provide a stream of income you cannot outlive.
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