Why Seniors Stress About Retirement Income
The Annuity Man
Shaina Mishkin's article in Barron's address what most seniors are worried about. Income during their retirement years tops the list. That should be a surprise to anyone, but with over 10,000 baby boomers reaching retirement age every single day, this issue will continue be a popular topic of discussion.
Social Security was never intended to be the primary source of retirement income, but that's exactly what it has become for too many senior citizens. With a demographic tidal wave of people nearing retirement or actually in retirement, how to generate additional income streams.
Guaranteed income annuities can contractually fill in that income gap. Annuities are the only financial product that provides a lifetime income stream. Yes...annuities have a monopoly on lifetime income. It's the 8th wonder of the world why the annuity industry doesn't just pound that message home to all Americans. Business schools will be studying this colossal marketing blunder for decades to come.
Annuities are transfer of risk contracts that are issued by life insurance companies. Lifetime income guarantees are primarily priced on life expectancy at the time you start the payments. Interest rates play a secondary role.
Guaranteed income annuity quotes are like a gallon of milk, which means they expire every 7 to 10 days. All carriers should be quoted in order to find the highest contractual income number for your specific situation.
Contact Stan The Annuity Man to get the best and highest contractual quotes with all carriers and using Stan's proprietary annuity calculators. You can also receive Stan's 6 Annuity Owner's Manuals for free an under no obligation.