Income In Retirement

Employee Pension Plans are becoming extinct in our country. Fewer and fewer employers are providing pension plans to new employees and current pension plans are facing the threat of bigger shortfalls. Furthermore, increasing numbers of Americans do not feel that they can count on Social Security Income to be there for them when they retire.

The result of these trends is that Americans are left to themselves when it comes to planning for an income in retirement. For most Americans this planning is done via securities investing in their 401(k) or IRA account.

There is just one problem with this type of planning: Can you guarantee that those income streams will be there for you in retirement like they would be with a pension plan? Can you guarantee not only that the income will be there, but that you will not outlive those income streams?
The answer is found in the experience of many pre- and post-retirees in America in 2008. During this time many retirees lost as much as 40% of their retirement nest egg. Thus, any income coming from that nest egg was most certainly not guaranteed. As a result, many Americans had to change their retirement plans and work longer than they planned on.

The problem we have found at Goodwin Network is that most Americans simply do not know that you can have guaranteed streams of income in retirement that are not subject to stock market volatility. Not only are these income streams guaranteed not to change in amount, but they are also guaranteed to last your entire life, no matter how long you live.

Imagine actually being able to have an income stream in retirement that you could count on and plan around. Would this relieve any stress as you manage your expenses?

Using specialized software, Duane can project what your income going forward in retirement will be if you continue in your current retirement plan. Call our office to schedule a time to meet with Duane Goodwin to receive this retirement income analysis at no cost or obligation to you.

For further reading on this topic, reference the following Wall Street Journal articles:

(1) Myers, Randy. “Will You Have Enough?” The Wall Street Journal November 11, 2009.
(2) Reilly, David. “Pension Gaps Loom Larger.” The Wall Street Journal September 18-19, 2010. (3) Browning, E.S. “Pension Funds Flee Stocks in Bid for Less-Risky Investments.” The Wall Street Journal October 18, 2010.