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Hyer Financial Services has the knowledge to assist you in making educated decisions. We’ll explain your options in easy-to-understand terms and be there for you every step of the way.
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Keys to Successful Retirement Strategies
With costs of living rising, the increase in medical care, and other economic factors, retirement strategies are adapting. Also, people are now living well into their 90’s and even beyond age 100. This means that your retirement income now needs to last even longer.
While you’re still working and earning an income, you might decide to invest in the markets to grow your retirement savings. However, what happens when retirement arrives? The risks of the market may no longer be risks that you’re willing to take. That combined with the limited availability of traditional retirement income sources, such as defined benefit pension plan, means you may want to consider other options. If you’re looking for ways to secure and protect your principal while maintaining a reasonable rate of return**, we can help.
During our review process we will discuss:
Because the investment markets have volatility by nature, they hold some inherent risk. Of course, no one can ever be 100% certain what the markets will do or how a particular investment will perform. This may mean your retirement account values go up and down, affecting your overall retirement strategy.
Unfortunately, the older we get, the less we have time on our side. During younger years, your retirement may have been able to withstand a drop in value because it had time to recover. However, once retirement arrives, you may not feel you have enough time to correct for any market decreases in value. In regards to your retirement, “hope” is not a strategy.
Retirement responsibility now relies more and more on retirees. Therefore, protecting your principal for the long-term may become even more important in terms of your retirement strategy. Financial solutions need to be assessed for their ability to protect savings*. Also, there are options which can provide a guaranteed* lifetime income and some benefits for your spouse or loved ones as well. No matter your retirement needs, we are here to help guide you through the options available to you.
A fixed index annuity (FIA) may offer potential indexed interest. In other words, you can change your annuity value into fixed payments or income. You may also elect to have this income payment go up over time, to account for increasing costs. Of course, there may be additional costs associated with some of these added benefits. Be sure to learn more.
Income payment can begin after a certain time period. If you hold off on taking your income, you might be able to increase the payment amount. If you do take retirement income prior to age 59 1/2, you may have to pay an additional 10% tax penalty. Withdrawals from your FIA are typically taxed at your regular income tax rate. Indeed, you should consult a tax advisor regarding specific tax questions.
Get a Second Opinion
Want someone to give your retirement strategy a second look? Want to protect* your savings long-term? We’re here to help.