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How can I make sure I don't outlive my retirement money?

As minor retirement expenses accumulate, you have to consider the bigger picture. Annuity, Retirement funds Will your nest egg last through your entire lifetime? On average, most Americans retire by the age of 62, which means many retirees must cover living expenses for around 17 years.

An annuity is a long-term investment that you purchase from your insurance company. They are designed specifically to protect you from outliving your income. For many senior citizens or people over 50, annuities are an integral part of a successful financial retirement portfolio. Annuities help build tax-deferred savings to cover retirement costs like living expenses and healthcare.

Specific annuity benefits can be tailored for individuals over 50. These benefits include receiving guaranteed payments, delaying Social Security and covering the cost of increasing medical expenses. In choosing the right financial product for your needs, you can better provide for the health and well-being of yourself and your family.

A plan ahead by purchasing an annuity that provides periodic payments which may cover changes in your living costs and provide you with a buffer during the golden years.
Adjusting to life without steady paychecks is difficult. You'll have extra time to fill and, for many, limited resources with which to enjoy spending on entertainment and luxuries. Maintaining your previous lifestyle while managing ever-rising medical costs and depending on Social Security benefits and savings can become a stressful balancing act. This sort of financial strain requires rigorous budgeting and a close eye on every penny spent.

Owning an annuity helps eliminate the anxiety and fear of outliving your resources and arms you with a long-term success plan. Because annuities often include the guarantee of lifetime payments— once purchased, it can also bring about more sound sleep, significantly decreased stress and easy days filled with the joy of grandchildren and golf.

West Financial Group is here to guide you in your investment decisions to help you make sure you will never outlive your money. 

Make the REST of your life
the BEST of your life.

For more than 14 years our mission at West Financial Group has been to guide our valued clients to financial security. We strive to address all of your concerns, ensure you understand the products we recommend and take pride in knowing you’re comfortable with the direction and strategy we provide you.

Our goal is to provide a “WOW” experience at every client interaction! We want every meeting, phone call and event to be an interaction worth talking about. We want our clients to be able to say, “WOW, what an experience! I can't wait to tell my friends about our financial professional.”

Whether it’s financial, retirement, legacy planning or optimizing your future wealth, our approach includes understanding your unique situation, exploring your goals and discovering the best way to make the REST of your life, the BEST of your life. By getting to know you and your family, we serve as financial guides who keep your best interests in mind throughout the entire process.

Skip West | Financial Planner | West Financial Group

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