Secure Retirement Income with Planning Diversification

Well, Election Day is over, finally! And even though all the ballets are still to be counted, a victor has been announced. Americans can move on with their day-to-day lives. Well, as much as we can considering were in a pandemic. Americans continue to face uncertainty in every aspect of life: economically, financially, socially with most of this stemming from COVID-19. With this uncertainty, comes instability and we see this reflected in rates.

Scott Gilpin

Retirement Marketing Manager
800.541.6705

accounts, investments, etc. This would make any consumer paranoid about where and how to place their retirement funds. But this simply tells me that, right now, the best advice is Diversification. We will never know what tomorrow brings, or how it will affect our nest-egg. Diversification of an overall retirement plan will, however, ensure that nest-egg is stable through uncertain times.

News continues to roll in about ‘low rates’ and ‘volatile markets’ and so it’s important to keep an eye on rate changes and deadlines. One result we can always count on with changing rates is it affects everything, not just annuities but bank CDs, Money Market accounts, investments, etc. This would make any consumer paranoid about where and how to place their retirement funds. But this simply tells me that, right now, the best advice is Diversification. We will never know what tomorrow brings, or how it will affect our nest-egg. Diversification of an overall retirement plan will, however, ensure that nest-egg is stable through uncertain times.

"Diversification will provide safety to ensure retirement funds will continue long after all the uncertainty we’re currently facing."

I’ve been in the business of retirement planning, and specifically annuities, for many years during which time I’ve been able to provide diverse and well-rounded retirement plans in partnership with our agents. In that respect, I’ve had several agents calling recently for out-of-the-box solutions because of the unique client situations and the worldwide environment. But it still comes down to one simple point, most clients are

looking for the same result, a secure and trustworthy retirement plan. On the other hand, they fear running out of funds during retirement. Diversification will provide safety to ensure retirement funds will continue long after all the uncertainty we’re currently facing.

One specific option I’ve utilized to ensure clients won’t risk exhausting their funds is by diversifying their portfolio with a Single Premium Immediate Annuity (SPIA). By keeping a portion of their retirement funds in a Fixed Indexed Annuity with an Income for Life rider and having an SPIA capable of turning into an income for some time, we could ensure a secure, long-lasting income. There are many options available to those planning for retirement. For example, we’re able to place a portion of their funds into a short-term Fixed Indexed Annuity just for the little fun things they’ll need, like vacations or an extra purchase, that they’ll be able to afford with their growth. Plus, they’ll still be able to fund other investments all the while.

At any point, ProducersXL and I can offer the right solutions for any client’s situation. We can assist in the process to guarantee your clients walk away from the table feeling secure in their decisions, even in this uncertain time.

Just because the rates fluctuate doesn’t mean we can’t provide solutions that ensure safe money that will be available for years to come.