This week’s article made me think about the old adage “What goes up must come down.” Getting older always seems to involve a race against time, and if you know that you have to live off of your savings in retirement, what do you do if there if there is a decrease in your nest egg when you have run out of time to try to make any losses back? Go back to work? Spend even less than you are now? When things are good it is human nature not to remember the risks, even though they are still there, just not actualized. “Fixed indexed annuities are one of several tools that you can use to limit downside risk. You may want to reassess your strategy to see if you can implement these tools. Investing in retirement or even in the years just before retiring always presents a difficult challenge. On one hand, you need to continue growing your assets so you can fund your lifestyle and fight inflation. On the other hand, you want to avoid significant declines because you may not have time for your investments to rebound. One way to protect against this risk is to use tools that offer upside potential but limit downside risk exposure. For example, fixed indexed annuities give you the ability to earn returns based on market performance without experiencing downside market loss. In a fixed indexed annuity, you earn interest every year. The interest rate is based on the performance of an underlying index, like the S&P 500. If the index performs well, your rate may be higher. If it performs poorly, your rate may be lower. However, these policies always have a guaranteed minimum rate, so you will never lose money even if the index declines in value.” Call us if you want to talk about options that limit your risk exposure. We’re always here to help.
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