Your Retirement Journey
Transcript: Road to Retirement
Wherever you are on your road to retirement… wouldn't it be nice to know you'll have a guaranteed income stream to support your lifestyle? In mapping out your financial future, it's a challenge to predict the obstacles ahead. Predictable income can help offer protection from the unknown.
Great years await you. If you're healthy in your 60s, there's a good chance you'll live into your 80s, or even your 90s. That means more expenses, including unpredictable ones, like health care. Will you have the income you need? Your savings may be your main source of retirement income. Social Security won't cover your retirement on its own, and many companies have reduced or eliminated pension plans. Your 401(k), savings, and the other accounts you control are more important than ever.
And if you're invested in the stock market, there are always concerns about volatility. Will you still be able to maintain your lifestyle in retirement if the market drops? A safety feature, like guaranteed income, may help keep you in control.
You'll already have some guaranteed income, like Social Security and maybe a pension. But if they're not enough, an annuity can help. It's a financial product that supplements those income streams, protects you from market losses, and helps ensure you don't outlive your assets.
You can purchase an annuity at almost any time and in varying amounts. Nearly everyone is eligible, and there's no annual contribution limit. It can help you save for retirement or provide you with income in retirement. Also, annuities are customizable to fuel your individual goals. If you want to stay in the market for tax-deferred growth potential, protect your savings from market volatility, leave a legacy to your loved ones, or receive guaranteed income for life, an annuity can help. Adding an annuity to your portfolio may provide you with steady income that can be your bridge to a comfortable retirement.
An annuity might be just what you need as part of your balanced retirement income plan. Contact a Financial Advisor at Wells Fargo Advisors today to find out if it might be the right product for you.