Speak with a Registered Agent: 1-866-223-2121

Speak with a Registered Agent: 1-866-223-2121

Americans Must Accept New Retirement Norm


By

It’s time to change our traditional beliefs about retirement, according to Business Week’s “The Great Retirement Rethink” by Elizabeth Ody.  While it’s really not what anyone wants to hear, basically we need work longer and even lower some of our expectations about retirement.  After averaging a gain of close to 10% each year from 1926 to 2000, the S & P 500 has lost around .4% annually since 2000.  Those who purchase some of the best immediate annuities may worry less than others, but only 23% of those surveyed are confident that they’ll be able to cover their most basic living expenses in retirement.  That is a very sad fact.

Extending your working lifetime is one of the best ways to secure a better retirement.  You are making money to add to your retirement savings, you aren’t taking money out of that savings, the market may make gains, and your savings will not have to be used for as long of a time.  Whether you stop working or not, try to delay Social Security payments as long as you can as well because payments increase the longer you delay.  Although drawing down 4% of your retirement assets each year has been the norm, many experts suggest that it’s best to lower that number to 3%.  Annuities are another way to help guarantee a secure retirement.  You’ll want to do an annuity rates comparison because your returns are based on current low interest rates.  Even though the economic conditions warrant some financial changes that are less than ideal, delaying retirement five years can make a huge difference in your savings.

Written by Rachel Summit

 

For more information about the product mentioned in this article contact us here:

Information Request Form

If you have questions or would like more information, please complete this form and a licensed professional will be happy to help. For the fastest response, please select 'Phone' as your Contact Preference.

By providing your information and clicking 'Submit' above, you acknowledge that you have read and agree to this site's privacy policy. You also provide your consent to be contacted at the email address or phone number provided above (including any wireless number) by licensed agents or representatives from or on behalf of AFYI Holdings Group, LLC and other companies to provide the information requested and/or offer annuities or financial products. You understand that these calls or SMS messages may be generated using an automated telephone dialing system, a pre-recorded message, or artificial voice. Consent to receive such messages is not a condition to purchase any goods or services. You may opt out at any time by following the instructions in the messages you receive.  Receiving quotes and information through our website is free, and you are under no obligation to purchase any goods or services as a result of this request. You affirm that you are the subscriber of the provided telephone number or that the subscriber authorized you to provide the number. Message and data rates may apply. AFYI Holdings Group, LLC is committed to respecting your privacy and adhering to all applicable laws and regulations, including the Telephone Consumer Protection Act (TCPA).