Indexed Annuity Insights

A crystal ball into the investing world – wouldn’t that be useful! Unfortunately, predicting market performance to a tee is not exactly possible. When markets experience downs, it is important to ask yourself: What can I do to help protect my savings and ensure future gains?

Market Uncertainty Heightens

This past December marked the worst decline for stocks since the financial crisis in 2008. Anxiety overcame many around this market uncertainty. While calm settled over the financial markets once the New Year hit, an uneasiness that 2019 may continue to be volatile still remains. The potential of another government shutdown, trade wars, and increased interest rates all contribute to this uncertainty.

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Tax season has officially started and if you’re an early bird looking ahead to April, you might have already started filing your 2018 taxes. Regardless of where you are in the process, here are a few tips to keep in mind for tax season this year.

Taxes in retirement are not exactly the same as when you’re working, but you will find some similarities. In retirement, you are taxed on the income the same way as you are during your working years, but because you will have several types of income (if you balance your portfolio), your taxes can work in a few different ways.

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The last two decades mark a distinct time of change. Over the years, we’ve seen how medical advancements have altered the healthcare industry and how shifts in technology impacted our ability to be successful in the workplace. Among these evolving factors, it’s no surprise that the retirement landscape has also changed from what we knew it to be 20 years ago.

These changes reshaped how we’ve approached retirement planning over time. And this year is already shaking out key trends we want Americans to know about. 

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Every New Year we think about our resolutions, which typically includes some promise to better ourselves. Pledging to go to the gym more, eat healthier, be more active, spend additional time with friends and family, and decrease our social media intake, are a few that usually make the list. However, one resolution we should all emphasize as we ring in 2019 is finding ways to become financially savvy.

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What’s on your loved one’s gift wish list?

Are they asking for the latest technology? Fashionable apparel? A must-have toy?

No matter the buzz-worthy item, what they may want to consider is a gift that lasts a lifetime. Remember, it is just a matter of time before a new version of their favorite technology enters the market, a different clothing trend is seen everywhere, or a new toy makes the hot toy list.

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Coming to you from the Indexed Annuity Leadership Council (IALC) is a new recipe to add to your Thanksgiving menu. We all have our Thanksgiving favorites, from turkey to stuffing, to sweet potatoes, pumpkin pie, and more. But as you sit around your table reflecting on all you have to be thankful for, we encourage you to also think about your recipe for a happy retirement.

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Did You Let Retirement Scare You Off This Halloween?

Halloween might get less scary as we age, but there are a lot of frightening aspects of retirement in 2018. In fact, recent data on the state of America’s workforce shows just how underprepared for retirement many Americans are.

While running out of money, drastic lifestyle changes, and the cost of healthcare are among Americans’ greatest retirement fears, here are some figures on where Americans stand:

1. 50%+ of all of Americans report their access to retirement plans and products has flatlined or decreased in the last decade.
2. Roughly 40% of all workers will have to work in their retirement years.
3. More than 40% of pre-retirees have significantly adjusted their lifestyle choice and spending to be able to retire.

With healthcare, taxes, and employer-funded retirement plans all in a state of flux in 2018, this fall is the perfect time to take stock of where you stand in retirement. You can overcome the scariest aspects of retirement planning this Halloween season by checking out these helpful tips:

1. Build a balanced portfolio—One option to mitigate risk in your portfolio is to add a more conservative product like a fixed indexed annuity (FIA). An FIA offers guaranteed lifetime income, helping to ease the stress of having to cover unexpected expenses for longer than anticipated.
2. Make a personal budget—People who plan can feel confident that they will likely end up saving more. Travel and healthcare expenses may increase during retirement so be sure to take that into account too.

As Americans are living longer than ever, it is important they take steps now to plan for the future. Fortunately, there are strategies and products available like fixed indexed annuities that offer guaranteed lifetime income, helping to ease the stress of having to cover unexpected costs for longer than anticipated.  Don’t let your fear prevent you from taking control of your golden years.

The post Did You Let Retirement Scare You Off This Halloween? appeared first on IALC.

Provided by: Indexed Annuity Insights

With just a few months left in the year, National Financial Planning Month is a great time to take charge of your retirement savings strategy. Some of the most important things you can do are to make sure you’re creating a diverse portfolio that will protect your principal from market swings and will provide for you for life. There are also common obstacles faced along the way, so make sure to avoid these retirement pitfalls:

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5 Things To Consider When Building Your Retirement Financial Plan

October marks National Financial Planning Month, a time when Americans can look at how they are saving, their retirement goals, and how they can create a tailored approach that works for them. October is the perfect time of the year to plan, with summer winding down and the holidays fast approaching, you can look back on how you’ve done in 2018 and what you could do differently before the year wraps up.

We have compiled a list of quick tips and steps you can take to help ensure you are on the best track to establish a sound financial future and accomplish your retirement goals.

1. The retirement landscape is changing.
   With Americans living longer and spending more time in retirement, many retirees are concerned about outliving their savings. In fact, 56% of Americans admit they are unsure if their retirement savings will last their lifetime.Moreover, the retirement landscape is changing, shifting from employer-provided pensions and 401(k)s to a more do-it-yourself, individual approach.
   -Just 38% of people say they could rely on Social Security alone
   -Only 13% of people say they could rely on pension alone
   -Three in five are very likely to work longer than they’d like to meet their personal retirement goals, and the average worker expects to push back retirement by two years
2. A diversified portfolio is a strong one.
   Diversifying your portfolio means balancing risk and growth!
   
   Designed for the long term, fixed indexed annuities (FIAs) are a great retirement vehicle to help ensure you are not putting all your eggs in one basket. FIAs offer a guaranteed minimum rate of return and tax-deferred growth over time. And because they are insurance products, indexed annuities can offer a guaranteed income for life.With these significant benefits of FIAs, you may be wondering if it is the only type of retirement savings you need. The best long-term savings plan ensures balance by bucketing money in a variety of vehicles like 401(k)s and other qualified retirement plans as well, as each has unique benefits.
3. Consider lifetime income savings options.
   Half of Americans say the number one thing they will miss in retirement is a steady paycheck. They are searching for a product that can help ensure a steady income stream. FIAs are designed to provide guaranteed lifetime income so you can never outlive your savings.These plans moderate risk in your financial plan. Different FIAs have different methods for helping manage this risk, so no matter what happens in the market, you can count on payments throughout your golden years.
   
   
4.  Think of retirement plan risk.
   401(k), 403(b), 457, and other qualified retirement plans are tax-advantaged plans established by the IRS to help Americans save for their retirement years. Many organizations that offer these plans provide their employees with self-service options to access the savings and investment components within these plans. A part of that, Social Security, as well as FIAs can provide a steady lifetime income stream. FIAs guarantee a fixed rate of return, regardless of market swings; whereas the rate of return for variable annuities depend on the stock, bond, or money market investment. This helps ensure your nest egg is secured and provides for you throughout retirement.
5. Make use of all the resources at your disposal.
   The landscape of retirement is changing and the different paths you can take in financial planning can seem overwhelming. Work with a financial professional to help outline your options and consider the impact of different strategies on your savings and retirement income potential.This National Financial Planning Month make use of retirement calculators and other savings tools that help you understand where you are financially and where you need to go to retire. Additionally, think about talking to a financial professional to see if an FIA may be a retirement savings vehicle to help you meet your retirement goals.

The post 5 Things To Consider When Building Your Retirement Financial Plan appeared first on IALC.

Provided by: Indexed Annuity Insights

As we celebrate women’s social, economic, cultural, and political achievements this International Women’s Day, the Indexed Annuity Leadership Council (IALC) wants to raise awareness that when it comes to savings, the gender savings gap is still huge.

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