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(as of May 30, 2023 15:21:46 UTC – Details)
Did you know that there is more than one way for retirees to reach their financial goals? Not everyone is comfortable relying on stock market returns from their investments. This book explains a different approach that builds security first through a floor of reliable lifetime income.
This is the meaning of safety-first retirement planning.
In this book you will learn:
How risk pooling through insurance works Why risk pooling is a source of additional spending that rivals potential stock market returns How commercial annuities provide this risk pool in the same way as social security or traditional company pensions How some bonds replace insurance-based risk pooling assets can improve the chance for retirees to reach their spending goal and to support more legacies at the end of their lives
I walk you through this thought process and logic in steps, and explore three basic ways to finance a retirement spending goal: with bonds, with a diversified investment portfolio, and with risk pooling through annuities and life insurance along with investments.
I describe the potential role and underlying operations for different types of annuities, including simple income annuities, variable annuities, and fixed index annuities. I explain how different annuities work and how readers can evaluate their options and make a choice about which way to go. I also explore the potential for whole life insurance to contribute to a retirement income plan.
When we properly consider the range of risks introduced after retirement, I conclude that the integrated strategies favored by safety-first advocates support more efficient retirement outcomes. Safety-first retirement planning helps achieve financial goals with less worry. This book gives you the knowledge to evaluate different insurance options and implement these solutions into an integrated retirement plan.
How did I come to write this book? After I got my Ph.D. in Economics from Princeton University with a thesis on social security reform, I became an economics professor who studied the pension systems in different countries. Eventually, I gravitated toward individual retirement planning and now work with a unique job title of “Professor of Retirement Income” and as director of the Retirement Income Certified Professional® designation for financial advisors. This requires me to be agnostic and look for the best with different retirement income styles. If the safety-first approach isn’t for you, you can also check out my explanation of probability-based alternatives in How Much Can I Spend in Retirement?
Publisher : Retirement Researcher Media (30 September 2019)
Language: English
Paperback: 366 pages
ISBN-10 : 1945640065
ISBN-13 : 978-1945640063
Item Weight: 1.08 lbs
Dimensions: 6 x 0.83 x 9 inches
