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| Name | Best Retirement Income Strategies in 2024 |
| Video Uploader | Video From The Guaranteed Retirement Guy - John Stevenson |
| Upload Date | This Video Uploaded At 02-05-2024 01:00:05 |
| Video Discription | Like what you hear in the video? Here are some ways I can help: 1. Watch my free training on how to protect & grow your wealth in retirement: https://info.theannuityassociates.com/start 2. Schedule a call to work with me: https://go.oncehub.com/RetirementStrategyCall CONNECT WITH JOHN: Call John The Guaranteed Retirement Guy: 702-819-0895 Website: https://johnstevenson.com Email: [email protected] Facebook: https://www.facebook.com/guaranteedretirementguy Instagram: https://www.instagram.com/guaranteedretirementguy Twitter: https://twitter.com/theguaranteeguy Tiktok: https://www.tiktok.com/@guaranteedguy #annuity #guaranteedincome #retirement What are the best retirement income strategies to ensure financial comfort and security once you retire? This video guides you through top options such as real estate, dividend stocks, and annuities, outlining the advantages and challenges of each. Summary - Real estate can be part of a retirement strategy but comes with challenges such as managing tenants and maintenance costs; it’s important to consider these factors carefully. - Dividend-paying stocks provide a source of stable income with potential for growth, though market downturns necessitate a diversified portfolio to mitigate risks. - Annuities offer guaranteed lifetime income with simplicity, eliminating the need for daily management, making them a favorable option for reliable retirement income. 1. Real Estate Investments Real estate investments provide income and are often seen as a cornerstone of personal finance and retirement income strategies. Their popularity stems from their potential to provide high returns. Imagine owning a property in a thriving downtown area or near a bustling college campus. These prime locations can significantly increase income potential when managed personally. However, while the allure of property investment is undeniable, it has its challenges. Some of the challenges that can arise include: - Non-paying renters - High maintenance costs - Difficulties in finding tenants - Potential income interruption from unforeseen events It’s crucial to weigh these factors when considering real estate as part of your retirement portfolio. 2. Dividend-Paying Stocks Transitioning to the realm of dividend-paying stocks, another enticing option emerges. These dividend payments from stocks distribute a portion of a company’s profits to shareholders on a regular basis, generating cash flow in the form of retirement income without depleting savings. Investing in companies that provide dividends generally means investing for capital appreciation in profitable enterprises. These stocks offer a lower risk profile and stable income, with the potential for capital growth and increases over time to match inflation. The income from dividends offers flexibility for retirees to reinvest, save, or spend the money according to their needs. However, the world of stocks is not without its risks. Downturns can affect both bond market and stock value and payouts. Therefore, diversification through mutual funds, bond funds, and ETFs is essential to mitigate these risks. 3. Annuities Shifting our focus to annuities, we find another solid pillar in the foundation of a comprehensive retirement income strategy. Annuities, often provided by an insurance company, offer a safety net that can alleviate the worry of outliving one’s savings, providing guaranteed income for retirement. One of the key advantages of annuities is their simplicity. They eliminate the need for day-to-day management or financial expertise, offering a straightforward solution for retirement income. Moreover, annuities not only provide lifetime income but continue to do so after the death of the annuity holder if a joint payout, empowering retirees to spend confidently. Currently, income annuities are providing high returns coupled with guarantees, making them an attractive option for retirees seeking a guaranteed income stream. 4. Social Security Benefits Social Security benefits serve as another key component of retirement income strategies. These benefits are determined by an individual’s 35 highest-earning years. The full retirement age (FRA) is either 66 or 67, depending on one’s birth year. Opting to receive Social Security benefits at age 62 will only yield 70-75% of the scheduled benefit per check depending on FRA. On the other hand, delaying benefits until age 70 can lead to an increase of up to 132% of scheduled benefits. To maximize these benefits, individuals should plan to work at least 35 years to avoid zeros in the benefit calculation, which would reduce the amount received. Lower-earning or non-working spouses can claim spousal benefits, potentially raising overall household income in retirement. https://johnstevenson.com/best-retirement-income-strategies/ |
| Category | Education |
| Tags | annuity | retirement income strategies | retirement | retire | guaranteed income | wealth | financial growth | annuity income | retirement income | planning for retirement | annuities | income for retirement | income strategies | annuity advisor | best annuity |
