Right on the Money host, Dennis Mattern, discusses retirement income strategies with Bob Lindquist, owner and operator of Safe Retirement Strategies, located in Overland Park, Kansas.
Part of the three-legged stool of retirement income planning is a pension income, or other employer-sponsored retirement income plan.
Pensions are becoming fewer and fewer, so employers are opting into defined contribution plans, or 401(k) plans. What this means is instead of the employee that used to be taken care of by the employer with a pension, that employee shoulders the responsibility for his own retirement income strategy.
The third leg are your own personal savings and investments. Some strategies and vehicles people are using to make up their retirement income gap are fixed indexed annuities. This vehicle provides guaranteed lifetime income to insure a stable retirement as part of an overall retirement income strategy.
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*Guarantees, including optional benefits, are backed by the claims-paying ability of the issuer, and may contain limitations, including surrender charges, which may affect policy values.
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