Three NO COST steps to increase retirement income while still working.

STEP 1. Read the article below.

STEP 2. Watch the 2 min video for better understanding and comparison with 401k

STEP 3. Refer to the final paragraph in the below article and ACT !

 

This article is geared to age class 27 to 55 who are still working, may be saving in a qualified or unqualified 401k or other retirement savings plan albeit at a place of employment or privately.

The first item to come to grips with is, if your method of accumulation is through a 401k SEP or other qualified plan you should understand, these are not retirement plans as much as they are “save FOR retirement” plans. Which also means your planning work is not complete.

During your working years too much emphasis is placed on growth of retirement nest-egg when you should be keeping an eye on your present income and expenses.  The reason for this is at retirement time it is INCOME that will be the all important topic of your life. Ideally the target income is 25% plus or minus current income to retire on for at least 20 years, if not more with Social Security.

If you check your Soc Sec benefits now you will likely find your projected monthly check will be a fraction of what your current income currently is. This simply means you will need to supplement your Soc. Sec. Usually from whatever method you are saving or accumulating for retirement with now.

Most get to their 50’s or 60’s, look at their nest-egg, do some quick math and may realize one or more of the following problems they are now facing;

  • Not enough building in their account.
  • Have not repaid an early withdraw that was taken.
  • Started accumulating too late in life.
  • Haven’t Started at all.
  • Lack of planning prohibited any long-term savings.

THE BAD NEWS- (the bad news can be easily fixed, but is more difficult with each passing day you put it off.)
If you are 48 years old with less than $100,000 in your account you may be looking at some serious trouble if you if you have not considered your over age 65 income before now. In our short video you will realize that your retirement fund is nothing more than a basket of money and every nickel you pull out to live on reduces your nest-egg. In the Video you will see $100,000 can run out in less than 6 years by simply supplementing your Social Security income.

THE GOOD NEWS- Very few people are aware you can employ a plan to pensionize your retirement income insuring it will never run out. Not only will it never run out but you can never out live how long the income comes in regardless of what you have accumulated. This is usually guaranteed. Your monthy pensionized check is determined by your contribution and age. As with most things, the earlier you start the better off you can be.

What is a pensionized plan and how do I get one without taking more out of my paycheck?
A pensionized plan simply pays you income for the rest of your life similar to the way Social Security works. The difference is Social Security is only tied to wages while in a pensionized plan it can be tied to contribution monthly, lump sum or any combination thereof. Utilizing a pensionized plan can significantly increase your retirement income and extend it to the remainder of your life where otherwise you may run out... Please watch the 2 min VIDEO.

To answer the second part of the question is easier than you may think. If you are funding a 401k, one option is simply to take a portion of those contributions and use it towards a pensionized plan. This give you the best of both worlds and you may decide to combine the two or any part thereof at some time in the future. We encourage you to contact us to look at a full array of options before making any decision.

 

Pensionize Means Security

Pensions were once the standard benchmark for quality retirement benefits. We can offer options to your retirement accumulation thay you may have thought are no longer available

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