Personal finance author Jonathan Clements once said that retirement is like a long vacation in Las Vegas – the goal is to enjoy it to the fullest but not so fully that you run out of money. After all, the golden years aren’t just about retiring to something but having something to retire to, and the best way to accomplish that is to ensure that you’re financially prepared for that day.
A recent report from the Employee Benefit Research Institute and Greenwald Research determined that Americans’ confidence in attaining a comfortable retirement has dropped the most since the 2008 global financial crisis. The leading contributors to these concerns among retirees are inflation and the fear of outliving the assets meant to support them.
Retirement is supposed to be when you enjoy the fruits of your labor, not worrying about whether or not those fruits will spoil, which is why creating a guaranteed lifetime income is your golden ticket to the stress-free retirement you deserve. In this episode of Money Script Monday, Michael illustrates the value of having guaranteed lifetime income as an essential component of a healthy retirement plan.
Resources Provided for This Episode
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