How 62-year old Texan met his retirement goal w/ $500K

How a 62-year old Texan met his retirement income goal with just $500K

By Cathy DeWitt Dunn

I recently came across a post on a large national newspaper’s blog talking about how investors should focus on generating cash flow during their retirement years.

This makes a lot of sense. Many savers get discouraged when they try to wrap their heads around how much money they’ll need to accumulate before retirement. Savings are important, without a doubt! But generating a predictable income from your savings––income you can’t outlive––is even more so.

At Annuity Watch USA, we have always advised our clients to keep their eye on the monthly income prize – not a pie-in-the-sky lump sum savings amount. Then, we concentrate on putting an income strategy in place that helps them achieve their income goals.

Just this week, we provided an Income for Life Plan for a client. The gentleman was 62 years old, lived in Texas, and wanted to know if $500,000 from his 401k could meet his income needs during his retirement. Based upon his specific retirement goals, we suggested a Fixed Indexed Annuity with a 5% income rider and a 25% premium bonus. With this annuity, his pre-tax income from his premium would equal $34,453 per year. That’s $2,768.75 per month––well above his goal. His annuity includes a death benefit, which means when he passes on, his heirs will receive whatever is left of his original premium, less any income paid prior to his passing.

With just $500,000 in hand with a fixed index annuity, our client was able to exceed his retirement income goal.

Find out for sure what kind of guaranteed lifetime income an annuity could provide to you. Simply click here to receive your Income For Life Plan. Remember, as with all retirement products, there are pros and cons on owning an annuity and we’d be happy to discuss them with you in detail.

Another easy way to see if your retirement income strategy measures up is to sign up for our free video series, “Securing Your Retirement Future,” which helps educate you on how fixed index annuities work…and how you can use them to GROW AND PROTECT your retirement assets.

Remember…with Annuity Watch USA, you can dream big, rest easy and be assured your money will last throughout your lifetime. We’re looking forward to helping you meet your retirement income objectives.

Annuity product guarantees rely on the financial strength and claims-paying ability of the issuing insurer.

Cathy Dewitt Dunn of DeWitt & Dunn, LLC, is the driving force behind Annuity Watch USA. With decades of experience in the financial services industry, Cathy has dedicated her practice to educating clients on how to take maximum advantage of financial solutions that are not available in traditional brokerage houses. Cathy is proud to be on the forefront of innovative financial solutions for the individual investor.

This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. Please consult with a professional specializing in these areas regarding the applicability of this information to your situation.

Annuity product guarantees rely on the financial strength and claims-paying ability of the issuing insurer.


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