Will You Have Enough Income in Retirement? - United Benefits

Elderly couple with their bikes

The number one fear of retirees is running out of money- either out living their assets or not having enough income to keep up with future expenses. This fear is justified as we are all living longer and as inflation goes up, so do our expenses. So how do you protect yourself?

 

Under the Federal Employee Retirement System (FERS) you are covered by a pension and Social Security benefits, but your thrift savings plan (TSP) will most likely be a large part of your retirement income as well. If you are looking for guaranteed, predictable income for life, an annuity can be a great option for your TSP.

 

Annuities have a bad name in certain financial circles and for good reason. Many are too expensive for the features they provide and don’t offer the guarantees that most retirees are looking for. But a certain type of annuity has gotten incredibly popular in recent years due to its low expenses and guaranteed features, and it is called a fixed indexed annuity. Let’s look at the three main benefits of this incredible product.

 

1.) Upside potential, without downside risk. You have the potential to gain interest based off of indexes you choose but if the index goes down, you are 100% protected from market losses. This insures that you will only gain interest, and never lose principal.

 

2.) Income for life. This annuity gives you the option of when to turn on an income stream, and it is guaranteed for life i.e. you can’t outlive your money.

 

3.) An increasing income option. This is an income stream that will not just stay level for your lifetime but can increase over time to help you keep pace with inflation.

 

Are you interested in learning more about how a fixed indexed annuity from United Benefits could help you in retirement? Imagine retiring with peace of mind- knowing that you have a guaranteed income for the rest of your life so that you can enjoy the retirement you deserve.

 

United Benefits has helped thousands of federal employees achieve just this. If you would like to schedule a free 30-minute retirement consultation, just click the button below and get started today.