One of the biggest concerns in planning for retirement today is the fear of outliving our retirement funds.  On average, people are living much longer than in previous generations and many will live well into their 90's.  While this is a wonderful thing, it creates a need for 20 or more years of retirement income that must also take into account the impact of inflation. 

The good news is that many annuity and life insurance products offer lifetime income riders that guarantee that your funds will not run dry!  Many also include riders that allow income increases to account for future inflation! 

The other major fear is that of paying large percentages of retirement distributions to Uncle Sam.  It seems quite evident that tax rates are very likely to increase in the future, so many are rightfully worried about the prospects of paying large percentages of their retirement income to the government.  This is the potential downfall of tax-deferred plans.  It is nice to avoid taxation on the front end, but it could be much worse during the distribution phase of retirement.  However, the good news is that there are plans available that are IRS compliant that allow for tax-free income during retirement, and your account can continue to grow as you are taking out income, reducing the risk of outliving your retirement fund!  The key to all of this is education.  It is important to meet with a trusted advisor who is up to speed on these products instead of trying to navigate these waters all by yourself!  

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