Empower Retirement: The Only Plan to Guarantee Your Income

Shawn Plummer

CEO, The Annuity Expert

It’s no secret that retirement planning is important. But for many people, it can be difficult to know where to start. That’s why we’ve put together this comprehensive guide to empower retirement and provide the entire financial picture. In this guide, you’ll learn everything you need to know about preparing for retirement. We’ll cover topics like saving for retirement, investing for retirement, and more! So whether you’re just starting out on your retirement journey or you’re already well on your way, this guide will help you take the next step.

How To Guarantee Your Retirement

This guide will go over the only guaranteed method to empower retirement and finance your future income. This method may not be the fastest way to invest, but currently is the only guaranteed path in retirement income planning. This method is ideal for investors wanting to create their retirement plan, and proactively manage a set path leading up to retiring. A consumer age 30 through age 55 would be perfect for this strategy.

Sometimes doing things the hard way is the right way.

Starting today, any participants can create this exact path to their desired future lifestyle in retirement and take all the second-guessing out of saving for retirement.

In this guide, you will learn how to:

  • Save money towards retirement in an efficient way.
  • See a clear path to the desired retirement income in the future, guaranteed.
  • Tax recommendations to minimize income taxes during retirement.
  • Eliminate the guesswork from investment outcomes.

In addition, this guide will answer the following questions:

This retirement plan is ideal for:

If you are nearing retirement or currently retired, learn how to save and spend wisely your retirement plan without running out of money.

Empower Retirement By Doing It Yourself

Most Americans invest their retirement savings into an IRA or 401k retirement plan from a paycheck not knowing future various investment outcomes. The problem with this financial strategy is the inability to

  • accurately calculate how much to save for retirement,
  • decide on the investing options along the way, and
  • hoping not to lose money.

Another problem with this method is that once an employee nears full retirement age, that individual must decide how to live on their 401k or IRA and figure out how to stretch their nest egg out for the rest of their lives.

What if the individual hasn’t saved enough in their retirement plan? Must they downsize their lifestyle because they didn’t invest correctly?

By empowering retirement planning yourself, you control your destiny. You dictate where your future lies.

Empower retirement By Guaranteeing Your Future Retirement, TODAY

To retire, a person needs money to finance their retirement. Unfortunately, there are currently only two retirement savings plans that guarantee an income for life: Social Security and Annuities. These two vehicles allow you to empower retirement and plan your future finances today.

Social Security

Currently, Social Security provides a guaranteed retirement paycheck to every American that works. However, a considerable disadvantage is that a person who hasn’t retired yet can’t control the amount of future income generated from Social Security Benefits, leaving some guesswork.

Another argument would be if the program would still be around in the future or change entirely from today’s standards, which could be a massive wrench in any plan.

Annuities

Currently, annuities are the only retirement savings plan that guarantees a paycheck for an entire lifetime or lifetimes, even if there is zero money left in the annuity.

Annuity owners can control the amount of desired income they receive in the future through annuity plans. Utilizing an annuity allows a person to guarantee their desired future retirement paycheck, starting today, leaving zero guesswork in determining how long money will last in retirement tomorrow.

Illustrations from the annuity insurance company reflect the actual investment results.

Controlling your future is empowerment.

How Annuities Empower retirement

Learn how annuities can give both pre-retirees and retirees control over their personal finances without the worry of running out of money, and maintain access to their savings.

Annuity Basics

YouTube video

Understanding Lifetime Income Riders

YouTube video

Determining How Much Money You Need To Retire?

There are three smart steps that an individual can take to empower retirement planning.

Step #1: Calculate Social Security Benefits

The first step is to calculate future Social security Benefits. The calculations generated aren’t guaranteed but will provide a rough estimate of what you can collect in the future.

Step #2: Find the Perfect Annuity

The participant’s current age, desired future income amount, and target retirement age will determine which annuity is the best for the participant’s situation and create a roadmap to follow. Utilize the annuity to enhance protection to offset some potential reductions in the Social Security Income just in case.

Open 2 deferred annuity contracts:

Open two separate deferred annuities to minimize taxes in retirement. By adding extra layers of income sources, you’ll implement added security to maintain the cost of living adjustments.

  • Roth IRA Annuity: Lifetime income payments to you will tax-free for life. Maximize contributions each year to this contract first.
  • Non-Qualified Annuity: Only the interest earned will be subject to income taxes, everything else is not taxable.

Helpful Tip: Variable annuities may lose value. To prevent losing money, utilize a fixed indexed annuity with a lifetime income rider.

Step #3: Follow The Roadmap

Once the retirement roadmap is created, follow the steps exactly as laid out to achieve an optimized experience.

  • It’s ok to increase the contributions to improve future results.
  • It is not ok to decrease the contributions to the retirement plan because this reduces your monthly income in retirement.

If calculating the retirement income amount is overwhelming, start by determining the current essential monthly expenses needed to survive.

To calculate the amount of income generated from the annuity, use the current essential monthly expense amount, then subtract the estimated monthly Social Security Benefits. The remainder will be the starting point to calculate the desired income generated from the annuity.

To calculate a more accurate income, one could also include an inflation rate of 3% a year between now and the desired target retirement rate.

Current Expenses – Social Security + Inflation = Annuity Income To Solve For

How long will my money last If I Use Annuities?

Unlike traditional retirement plans and investment accounts, the income generated from annuities, both annuitization and income riders, will last for a lifetime even if the annuity has run out of funds.

Estimate Your Retirement Income Payments

Take advantage of 17 different annuity calculators to generate estimates, then request a quote.

Preparing For Retirement By Age

Your 20s

Preparing For Retirement In Your 20S

Your 30s

Preparing For Retirement In Your 30S

Your 40s

Preparing For Retirement In Your 40S

Your 50s

Preparing For Retirement In Your 50S

Your 60s

Preparing For Retirement In Your 60S

Empower Retirement Planning Tips

Wait Until Full Retirement Age

Don’t make the mistake of taking SSI early. Defer benefits until the full Social Security retirement age or age 70. A reduction in benefits will affect an individual later in life when Long Term Care is needed. Long Term Care costs are costly, and a 70% chance a person will need the care.

Roth IRA Annuities Eliminates Taxes In Retirement

Set up a Roth IRA Annuity first. Income generated from a Roth IRA Annuity will be tax-free if you follow the IRS guidelines. An individual can contribute up to $7,000 annually, depending on the person’s age. Fund this annuity contract first and fund other annuities after the maximum contributions are met.

Non-Qualified Annuities Reduces Taxes In Retirement

After the Roth IRA Annuity has been fully funded each year, set up and fund the non-qualified annuity. There are typically little to no contribution limits with a flexible-premium annuity. In addition, non-qualified annuities are funded by money that has already been taxed, and only the interest earned will be taxed once you generate income during retirement.

The consensus is that taxes will only increase in the future. Higher taxes result in less income for the retiree. A non-qualified annuity reduces this risk compared to a traditional IRA or IRA annuity because only the interest is taxed instead of the entire amount.

Buy Life Insurance To Protect Your Family

Buy a life insurance policy. Protect loved ones financially starting today if the retirement plan fails because of early death. Find the highest death benefit possible at the cheapest cost.

Find The Best Life Insurance Coverage At The Cheapest Cost!

Compare life insurance quotes from 25 companies in seconds. Then, apply for coverage in less than 10 minutes.

Conclusion

To empower retirement, one must control their financial future. Currently, annuities and Social Security on the only method that can guarantee an American a paycheck for life in retirement.

Today, participants can control when they retire and how much desired income they will receive tomorrow during retirement by investing in a deferred annuity.

Utilizing annuities combined with Social Security Income isn’t exactly the fastest way to save. Still, it is the only guaranteed method that allows people to empower retirement planning for themselves rather than relying on others.

Take the first step to create your retirement roadmap, and gain financial confidence.

Find Out How You Can Empower Retirement Today

Contact Us
First
Last

Shawn Plummer

CEO, The Annuity Expert

I’m a licensed financial professional focusing on annuities and insurance for more than a decade. My former role was training financial advisors, including for a Fortune Global 500 insurance company. I’ve been featured in Time Magazine, Yahoo! Finance, MSN, SmartAsset, Entrepreneur, Bloomberg, The Simple Dollar, U.S. News and World Report, and Women’s Health Magazine.

The Annuity Expert is an online insurance agency servicing consumers across the United States. My goal is to help you take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates for you. 

Scroll to Top