Ideally, your golden years are a time to relax and enjoy your grandkids and the fun you've worked your whole life to have. You want to keep things simple in every area, including your finances. Often, a successful financial retirement portfolio is best gained by just that: simplicity.
One way to make your retirement more straightforward and successful is through annuities. Annuities work as a buffer, helping to build tax-deferred savings to cover retirement costs like living expenses and healthcare.
Some specific annuity benefits are tailored to fit the unique needs of every individual over the age of 50. Some of these annuity benefits include receiving guaranteed periodic payments, delaying (and thus building) your Social Security benefits and covering the costs of increasing medical expenses.
For successful retirement, you have to consider the bigger picture as retirement expenses accumulate. Will the nest egg you currently have last you through the rest of your life? The average American retires around the age of 62. This means living expenses must be covered for at least another 17 years.
With the extra free time retirement brings, living without a steady paycheck easily becomes difficult. For many, retirement means minimal resources with which to enjoy spending on entertainment and luxuries. Instead of being a time of enjoyment, retirement often ends up becoming a stressful balancing act of rigorous budgeting and belt buckle tightening.
Owning annuities arms you with a long-term financial success plan and helps rid you of the anxiety and fear that comes with outliving your resources. Because annuities often include guaranteed lifetime payments— once purchased, they also bring the opportunity for more sound sleep, significantly decreased stress and easy days filled with the joys of retirement.
Contact West Financial Group today to help you make the best out of your golden years!