Steve Vernon 1/25/2014
from WiseMoney Radio Show Hosted by Manuel Negron
Steve Vernon is our guest this week. Here is an outline of what we're talking about on this episode: 1. Risks retirees face when planning for income in retirement – a. Market Risk – losing money just before or just after retirement can devastate one’s plans b. Inflation Risk – having a fixed income in retirement that does not increase with rising inflation can cause a lot of stress on a portfolio c. Longevity Risk – living longer than you expected to, draining your assets in the process down to potentially nothing d. No Pension through work – now have to turn your IRA or 401(k) balance into a pension yourself – what are best ways to do that? 2. Can an annuity help you with any of these risks in retirement? – a. Many different types of annuities you can purchase i. Immediate ii. Deferred 1. Variable 2. Fixed 3. Fixed-Index b. Provide a paycheck for life from a sum of money – either paycheck now or paycheck in the future c. Designed to supplement social security or pensions through your employers as a supplemental guaranteed income source
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