You’ve been planning about your retirement for years now, thinking of the things you want to do: travel more, spend more time with your family, take up a new hobby or just relax. However, even if you’ve been investing and saving continuously, you will still find yourself asking questions like:
- Will the money I’ve saved up last as long as I live?
- Will my savings withstand the future cost of living which is constantly increasing?
- Can my retirement investments and portfolio endure volatile and unpredictable market conditions?
For you to be able to put your mind at rest, you should start considering putting your retirement money into investments that can provide you with guaranteed income for life.
What is Guaranteed Income for Life?
Pre-retirees and retirees alike are investing into retirement plans that can offer disciplined payout and that can provide them with a sustainable retirement living.
Guaranteed income investments and accounts provide future retirees with contractually guaranteed income both in stable and poor market conditions, protecting them from the worse possible scenario while offering them the chance to have the best retirement future they deserve.
Considering the risks
A thorough RETIREMENT PLANNING involves the acknowledgement of risks associated when building a retirement-income portfolio. The risks include, but are not limited to, the following:
- Longevity or the risk of running out of retirement funds because you live longer than expected
- Inflation or the risk of losing your purchasing power over time
- Sequence of returns or the risk of premature and bad market returns
- Volatility of returns or the risk that’s usually associated when in investing in stocks and bonds
Addressing the Risks
Your retirement advisors or FINANCIAL PLANNER should be able to offer you investment products that you can use to address the abovementioned risks. There are at least nine categories of retirement income investments that you can consider:
- Life Insurance
- Target-date funds
- Fixed annuities
- Segregated Funds with accumulation bonus and payout guarantees
- Payout funds
- Long-term care insurance
- Combination products (life insurance + long-term care insurance, annuities + long-term care insurance)
- Payout annuities
Each of these products works differently but some of them accomplish similar goals. For example, payout fund and payout annuities are similar in some ways – they are both designed to pay retirees with a certain amount of income.
You should also bear in mind that each product and services have their respective strengths and weaknesses. Not one of them would be able to address all the risks by itself; there’s no one-size-fits-all solution so you should carefully choose the right mix of products you want to add to your portfolio.
Realizing Your Retirement Dream!
Having peace of mind during retirement means being able to count on a regular and predictable monthly income that will be available regardless of market conditions.
At Synergy Life, we look forward in helping you realize your retirement vision by designing your portfolio with the right combination of retirement products and investments.CONTACT US to arrange a no-obligation review.