Good retirement income planning involves adjusting to circumstances and evaluating innovative products. Consider an FIA to manage downside risk. I have spent my career looking for new ways for retirees to create income — particularly safe, lifetime income — and at the same time meet their objectives for legacy, inflation protection, liquidity and risk management. I think about results, not specific products, so although annuity payments have been at the core of my research and approach, I have incorporated other types of income sources into my Go2Income planning method, too. The latest is call ..read more

There’s a lot of promotion of ‘alternative investments’ these days, from gold to real estate and even to Bitcoin. Are you missing out? If you do any research on your own about how to create a solid retirement, you’ve read about alternative investments, financial managers who boast great performance and the tech stock your friends cashed in on. You’re also seeing that your kids could use your help with the down payment on a house or condo with more space. Can you afford to make that riskier investment or help your kids — without jeopardizing your own retirement plans? Your plan for retirement i ..read more

Here are some of the challenges that could lie ahead this year, plus some suggestions for how you might deal with them to help secure your financial future. Looking forward to the new year, my advice is to be, well, flexible. It’s difficult to foretell the future, even when the future is tomorrow. So, predicting (guessing) what the next year will bring has historically been proven wrong, often by a lot. As we review ideas about 2024 from several market observers, remember that we will undoubtedly need to adjust and rework our retirement plans. Americans face retirement income shortfalls ..read more

Hypothetical retirees from 2017 are in much better financial shape today, thanks to annuities and higher interest rates. Their kids and grandkids stand to also reap the benefits. Who knew the holidays would result in a reordering of family financial plans? One minute we sit down for turkey and all the fixings, and the next we’re planning how to pay for the rest of our lives, along with a critical portion of our kids’ and grandkids’ futures. What you were really looking forward to was one or three of those homemade rolls, but of course you enjoyed the family, too, and as a side dish, you came ..read more

From higher prices and mortgage rates to AI planning our retirements: These are some of the conversations you might have as multiple generations gather for the holiday. The joy of the holidays means gathering everyone around the dining room table. Three or more generations might get together at this time of year and no other. We have a chance to catch up and reacquaint ourselves with stories and companionship and maybe talk about topics that are best discussed in person. One of my first articles for Kiplinger.com, 8 Financial Conversation Starters for Thanksgiving Table Talk, was a reveri ..read more

When interest rates rise, so do payments on new annuity contracts. Maybe it’s time to take another look at how annuities can fit into your retirement income. Yes, interest rates are up, and that hurts new home buyers and other borrowers. Yes, short-term interest rates paid on your bank account are higher. Yes, long-term interest rates paid on new bond investments are up, too. Did you know that higher interest rates also increase the payments on new annuity contracts? Those higher payments raise another important question: Is this the best time to start, or add to, the ..read more

An integrated approach of investments and annuities could provide you with more retirement income in addition to protection against inflation and late-in-life expenses. One might yearn for the days of company pensions, but we live in the era of the 401(k) and similar plans, so we might as well take full advantage of them. That means socking away at least the maximum that your plan provides in pre-tax contributions and encouraging your bosses to offer matching payments and the investments that will best help grow your pot of retirement money. In fact, at least 85% of all eligible employers off ..read more

Keep a generous amount of your savings in the stock market, but make stocks only part of your retirement income plan to manage the risks. Gambling can be a fun little pastime between friends — or a disaster. There’s a difference, for example, between losing a $100 bet on your favorite NFL team and running out of money at age 90.Over the long term, stocks outperform bonds. So, stock market investments should be one component of a plan you use to prevent your savings from running dry before the end of a retirement that can last 20 or 30 years or longer. View to different colored game dices and a ..read more

To be or not to be secure in retirement … Income planning is critical, and that means testing different strategies and products to get your best outcome. It’s a mistake to think about retirement only in terms of your savings. I’ve written about this before, but many people — including a lot in the media — aren’t listening. Recent articles bemoan the outlook for people who are serious about retirement — especially so-called late Boomers, who were born between 1955 and 1964. Blame the Great Recession and the pandemic.While savings are obviously relevant, the measure of a happy retirement&nb ..read more

How you handle your pre-tax and after-tax accounts can make a big difference in your income in retirement and the legacy you leave. As you formulate your plan for retirement, you may be pleased with the amount of money saved over your working life and now invested in your after-tax investment accounts, IRA/401(k) accounts and as equity in your house. Yes, you can convert your savings to income in a variety of ways, but how you plan and allocate income among investments and annuities — and between accounts — can enhance your ability to take vacations, make gifts, provide health care and general ..read more