We Help You STAY Retired

Is conventional wisdom correct when it says you need to generate 80% of your income in retirement? The truth is, there’s no set formula for how much money you need to make when you retire. It starts with considering your own situation, personal goals, and lifestyle you want to live. However, that doesn’t mean it’s impossible to figure out. In fact, this gives you the freedom to plan for the retirement you want.

For years, most people took a “traditional” approach to plan for their retirement income. Social Security and employer-sponsored retirement programs provided stable and significant retirement income opportunities, and people saved what else they could. Over time, Social Security has diminished and substantial pensions or retirement programs are no longer a part of most employment benefits. So, savvy retirement income planners have turned to other tools, like annuities, to cover the gap.

While you might not want to reveal too much about your future, you would probably ask how retirement was going, and you might peak around to see if it seemed like you had achieved your retirement goals. However, the more important questions to ask would be, “How did you do it?” and “What would you have done differently?”

At Income For Life, we place a premium on providing education, free resources, and other tools — like annuities — to help you effectively plan for all of your retirement needs and wants. We can help you understand the role Social Security can play in your retirement.

Planning for retirement is a process, and that should come as good news because it means that you don’t need to have all of the answers all at once. All you need to do is focus on the right things, and get started on making your plan sooner, rather than later. Here are the things that are most important to consider when beginning to make your retirement plans.

If you’ve been retired for any amount of time, you realize that the reality of retirement is filled with a lot more fear than the media lets on — the fear that surrounds losing the steady income that comes with your paycheck. While our paychecks have a monetary value attached to it, the truth is, our regular income is worth far more to us than pure numbers let on. The truth is our paychecks are about security and peace of mind, something you simply can’t put a price on.

Planning for a successful retirement is even more difficult. Shifting markets, changing employment benefit trends, and many other factors make the retirement income planning landscape an ever-changing and evolving place. And yet, tens of thousands of Americans retire every year with confidence. How do they do it? The answer may not be as complicated as you think.

There are many pitfalls on the road to retirement and the costs of your healthcare is one of those that many people fall into. Dealing with healthcare related bills can throw off the retirement you’ve always envisioned. However, being prepared for this almost inevitable eventuality can not only help you retire, but stay retired.

While most of us understand the necessity of taxes, we want to do all we can to ensure that Uncle Sam is taking no more than what’s due. The truth is that taxes don’t stop when you retire. That’s why it’s absolutely essential to develop the right mindset and strategy to deal with the distribution phase of life.