Retirement Income
It’s never too soon to start saving for retirement. People are living longer and expecting more from their later years. Chances are you’ll spend 30 years or more in retirement. While that is certainly good news, transitioning from a steady paycheck to receiving steady retirement income can be a little overwhelming and fraught with questions. Your retirement dreams are all within arms reach with the right retirement plan.
Do I have a retirement plan in place? Is it the right plan? Will your retirement savings last? What about accounting for healthcare costs and inflation?
Here at BenefitSource we’ll determine how to create income that will not only last, but also grow to cover rising costs.
Use the following 3 step process to see where you’re at and consultant with a BenefitSource Professional to develop a plan that will help you meet your goals:
Step 1: Take inventory.
- What are your essential expenses? Think about food, housing, utilities and medical costs.
- What do you want to do in retirement? Travel? Golf? Take classes?
- What are your sources of retirement income?
- Do you have a pension?
- How much Social Security will you collect?
- Will you work or consult part-time?
- How much have you saved for retirement?
This analysis lays the foundation for your retirement income plan. Talk to your advisor about what you have discovered.
Step 2: Cover the Essentials
- Determine what your essential expense will be at retirement. Do your guaranteed sources of income cover your essential expenses?
- What is the surplus or shortage of essential expenses? Work with your advisor to implement a plan to cover your planned essentials at retirement.
Step 3: Protect your lifestyle
- Determine the lifestyle you would like to enjoy at retirement.
- Factor in inflation and rising health care costs.
- Work with your BenefitSource advisor to develop a retirement plan to meet your goals.
Ask Your BenefitSource Retirement Specialist:
- How can I use my nest egg savings to create lifetime, guaranteed income?
- What if I only want to bridge a short-term income gap, for example between early retirement and Social Security?
- Is there a way to lock-in a guaranteed income stream and still have the flexibility to access funds if I need money?
- If I want to leave money to my heirs, how can I plan for that?
- How can I plan for periodic “cost-of-living” increases with my monthly retirement income?
Be Insurance Minded, contact BenefitSource and speak with a Retirement Specialist today.
To help you get the most out of your Retirement, there are two ways you can get started:
Click on the GET A QUOTE tab on the left of this page and begin by telling us a little bit about yourself.
or
Call 1-877-215-5431 and start working with a BenefitSource Retirement Specialist today.
