Annuities were established for the purpose of providing a regular income stream upon retirement. They can be shaped and sized according to your needs and give you the option to begin receiving the income at a future date or immediately. You can fund your annuity gradually or all at once. Depending on the type of annuity, its value can be tied to a fixed interest rate or the performance of underlying investment funds.
The goal of retirees — past, present, and future — is to have a source of income. In the past, retirees could rely on Social Security and employer-sponsored pensions as that source of income. Over the years, much has changed. Today, life expectancies have increased, while the certainty of Social Security and employer-sponsored pension plans has diminished. By all estimates, the next generation of retirees, the baby boomers, will live longer and spend more time being retired than any previous generation.
- Do you have sufficient assets to provide enough income at retirement?
- Are you prepared if you have a long retirement of 10-30 years or longer?
- Will your retirement income last as long as you do?
- Will you have enough money when you retire?
These are all questions that Jeff at Richard Financial Resources, LLC can help you answer. We can also help you arrange:
- for your annuity to provide an income for a specific period of time or an entire lifetime.
- for income to be received from a fixed income plan or variable income plan that is tied to the performance of underlying investment funds.
- to have your annuity provide income to you alone, to you and a significant other, to continue to whichever of you lives the longest or even to another beneficiary beyond your lifetime and that of your significant other.