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Several Retirement Income Streams-You won’t Outlive Your Money
During your working years, we all try to save for retirement (income stream creation). We meet with our team of trusted advisors to determine what blend of financial tools should be used to achieve our goals. In making this determination, we consider how much income we will need, what assumed rates of earnings and how long we will need the income. The major issues that need review and analysis are: Longevity-what if you live beyond your life expectancy? People are living longer. Taxation-who knows what taxation will look like in several years. Inflation-the purchasing power of the dollar drops but how much over the years? Illness-It is estimated that 70% of people over age 65 will require long term care services at home. Life insurance is an asset class that belongs in a well diversified portfolio. Benefits of life insurance include: tax deferred growth, income tax free death benefits, tax free income stream creation. Uncommon to popular belief, life insurance product can be custom designed to meet your specific goals & objectives. You never know if you will retire in an up or a down market. However, market performance in the early retirement years can make or break the income stream that your require. |