Who Will NOT Run Out of Money In Retirement

August 30, 2016

The number one financial concern for all Americans is having enough money to retire. Unfortunately, about 97% of Americans will run out of money in retirement if they live long enough.

The number one financial concern for all Americans is having enough money to retire. It doesn’t matter whether they’re an average wage earner making around $44,000 a year or if they’re a physician earning $440,000 a year. They all they all have the same problem… almost none of them can retire.

Unfortunately, about 97% of Americans will run out of money in retirement if they live long enough.

So the question is who will NOT run out of money, and what are they doing?

The people who won’t run out of money have one or a combination of the following three things that others don’t have.

  1. They have some type of annuity that will pay them for life.
  2. They have a permanent cash value life insurance policy that gives them lifetime tax-free income.
  3. They have a lifetime pension.

If you do not have one or a combination these of these three things you need to make it a priority to get one. If you have a 401(k) or IRA similar type plan at retirement, you should consider rolling it over into some type of indexed annuity to give you a lifetime payout. If you simply draw from it, you will likely end up like the 97% who run out of money. You should also consider not contributing any more money to a 401(k) or IRA, and instead put that money into a permanent cash value life insurance policy.

Yes, you will be giving up the current tax deduction and yes, if your employer is contributing to your 401(k) you will be giving that money up too. But, when you run an analysis using software that compares a 401(k) with employer contributions and all the bells and whistles, to putting money into a cash value life insurance policy, using a side-by-side, apples-to-apples comparison, the permanent cash value life insurance policy wins every time. The software takes the guesswork out of the equation.

If you have questions or comments, send an email to David@theAlemianfile.com. Visit my website www.CapitalCrestFinancialGroup.com. Absolutely make sure you come back here next week for another edition of the Alemian File.