Creating a Stable Income Source for Your Retirement
Tomorrow's not Guaranteed - Retirement Income Certainty Today Can Be
Life can change in a moment. Global pandemic, market uncertainty, income loss, mandatory business shutdown and social distancing have changed the world. Retirement should be your time – from the start. What that looks like in today's world may be vastly different from what you imagined. But that’s OK. By being prepared and having a plan on how to best use your savings, you can help ensure your retirement goals stay on track, such as maintaining a stable home and family, and managing through market volatility and health care expenses. Yet even if you’re well prepared, with all of the things you need to consider, retirement can start with stress, not satisfaction. But it doesn’t have to be that way.
You may be able to create a modest income stream in retirement to suit your unique needs. Whether you're rethinking your retirement timeline, are early in or fully in retirement, an annuity can offer:
Predictable, reliable, guaranteed income payments for life
A long life is something to celebrate – not worry about! As hard as it is to grow your assets, it’s even harder to turn your assets into a predictable stream of income. Annuities with retirement income protection can help with this because you share your mortality risk with an insurance carrier.
The ability to have stable income in retirement
Are you concerned about how much income you will need in your first 5 or 10 years of retirement? Annuities can help you obtain guaranteed lifetime income that can help provide funding now so you can start enjoying more today. You may also be able to plan now for how you will pay for health or other factors that could block those plans later on.
Help maximize your social security income
In some situations, annuities can help you secure the income you need early in retirement allowing you to start taking social security income payments when your benefits reach their maximum level. This may allow you to ease into retirement slowly while getting the most from your social security benefits.
Protection against market downturns
It can be unpleasant to watch stock-index graphs zig-zag downward. An annuity can help you maintain a stable income stream in bear markets. When the markets gain ground, your contract value could share some of that growth.
The option to focus on home and family today
So many of us have been affected by social distancing. Some have benefited from more family time - all at once, while others have been forced to stay distant from loved ones. An annuity can help to financially "bridge a financial gap" so you can focus on family and home...today or tomorrow.
This material is intended for general use with the public and is not meant to provide any individualized tax, investment or financial planning advice. We encourage you to consult with a financial professional who can tailor a financial plan to meet your needs.
Product features, rider options and availability may vary by state. Income payments and guarantees are based on the claims-paying ability of the issuing company. Annuities are NOT FDIC Insured and there is NO Bank or Credit Union Guarantee.Annuities are a type of insurance contract issued by an insurance company. Annuities are long-term products particularly suitable for retirement assets. While you can use annuities to help save money for retirement and to receive retirement income for life, they are not meant to be used to meet short-term financial goals. Annuities held within qualified plans do not provide any additional tax benefit. Early withdrawals may be subject to surrender charges. Withdrawals are subject to ordinary income tax, and if taken prior to age 59½, a 10% IRS penalty may also apply. Interest rates, participation rates, caps and strategy fees are subject to change. Annuities are subject to possible loss of principal and earnings, since a surrender charge and market value adjustment may apply to withdrawals or upon surrender of the contract.
This material is provided by Nassau Life and Annuity Company (Hartford, CT). In California, Nassau Life and Annuity Company does business as “Nassau Life and Annuity Insurance Company.” Nassau Life and Annuity Company is not authorized to conduct business in ME and NY, but that is subject to change. Nassau Life and Annuity Company is a subsidiary of Nassau Financial Group.