Sentences with phrase «guaranteed income»

For example, annuities — which can provide guaranteed income during retirement — have tax implications.

Or, if security is your primary concern after retirement, you can weigh your investments more heavily in guaranteed income products.

Look for ways to enhance income, such as delaying Social Security payout or putting a portion of savings into a guaranteed income source, like an annuity.

However, when a majority of your spending is met by guaranteed income sources you can shift your focus to goal two.

The best part is that when you take the money out in retirement, it doesn't count as income, so you don't have to worry about clawbacks to government retirement benefits, such as Old Age Security (OAS) or the Guaranteed Income Supplement (GIS).

Fixed Indexed Annuities also offer optional riders to create guaranteed income streams, like those available through income annuities.

FIAs generally have the option of adding a Guaranteed Income Rider that promises to pay you a fixed amount for as long as you live.

Indexed annuities are a perfect example of a retirement product many should consider to help ease the angst of retirement planning and secure guaranteed income for life.

David Blanchett, the Head of Retirement Research at Morningstar, recently published this study on the impact of guaranteed income on safe withdrawal rates from portfolios.

Service Canada says the Allowance for the Survivor is an «income - tested transitional benefit» and that once these beneficiaries reach age 65, their benefit is converted to an OAS pension and «possibly the Guaranteed Income Supplement.»

If their retirement income ends up too high, the Guaranteed Income Supplement could be lost, as well as Old Age Security payments in part or whole.

Generally that is the case but if you have any additional riders added to the policy (like a guaranteed income rider) your account is still charged that annual fee.

Withdrawals also do not affect eligibility for income - tested benefits and credits, such as Old Age Security, the Guaranteed Income Supplement, and the Canada Child Tax Benefit.

If you expect to receive the low - income Guaranteed Income Supplement and retire before 65, you're generally best off starting CPP immediately at a reduced rate.

Don't forget, too, that you're eligible for a Guaranteed Income Supplement if you're a low - income retiree.

You may also be offered the choice of buying an annuity, a product sold by life insurance companies that provides guaranteed income for life in exchange for a lump sum.

It's hard to beat the defined benefit pension's assurance of guaranteed income for life, says FitzGerald.

By the same token, if your salary is relatively low and you want to maximize future sources of government retirement income like Old Age Security and / or the Guaranteed Income Supplement, then again the TFSA is compelling: all withdrawals will be totally tax free and not trigger dreaded «clawbacks» of OAS or GIS.

The impact of RRSP withdrawals on clawbacks is even more severe at the other end of the income spectrum, where seniors may qualify for the Guaranteed Income Supplement: GIS.

Our Government has already greatly expanded the Guaranteed Income Supplement for very - low - income seniors.

If you've recently retired and don't have a lot of other secure income, you'll probably appreciate a boost in guaranteed income.

The GMWB's contract states the insurer will pay out the greater of the RRIF minimum payment or the guaranteed income.

For lower - income seniors who will be receiving the Guaranteed Income Supplement, the 50 per cent clawback rate triggered by RRSP income makes RRSPs a poor savings choice.

At the same time, the older generation has enjoyed more generous tax breaks, such as income splitting, along with a truly amazing rise in government benefits from such programs as the Canada Pension Plan, Old Age Security and the Guaranteed Income Supplement.

Depending on your situation, you might consider buying an annuity to give you the peace of mind that comes with a guaranteed income.

If you want the guaranteed income to begin soon — say, to pay for essential living expenses beyond what income from Social Security alone will cover — then an immediate annuity would be a better way to go (although you may still want to hold off a bit to get a better handle on what your actual expenses will be after you retire).

Provide investment options to help grow your retirement savings and optional benefits that offer protection and guaranteed income for life.

A 2012 Towers Watson report titled Annuities and Retirement Happiness also cited a connection between guaranteed income and a happier retirement, in this case noting that retirees who received guaranteed income in the form of a traditional check - a-month pension or annuities tended to have higher retirement satisfaction scores than those without such income.

Most are sold with variable and indexed annuities serving as the delivery method for this guaranteed income component, and agents have a tendency to not fully explain how income riders actually work.

Because it's a guaranteed income stream.

That's why it may be a great time for you to consider a Brighthouse Financial variable annuity with the optional FlexChoice Access living benefit rider, which lets you turn a portion of retirement savings into guaranteed income that lasts for life.

The idea is that you part with some of your savings today to assure you'll still have guaranteed income you can count on down the road, even if you overspend earlier in retirement.

Like an immediate annuity, a longevity annuity provides guaranteed income for life, except that while you invest your money now, the payments don't begin until later, typically much later, say, 10 to 20 years in the future.

«When I bought my first home, I chose a duplex, thinking I'd rent out one side for guaranteed income to help offset the mortgage payments.

And then there's the evidence that, potential financial plusses aside, the guaranteed income annuities provide can make for a more satisfying retirement.

I think if you dive in deep some on, let's say, a fixed index annuity with a guaranteed income rider on it, how they're sold and how they work might be two different things.

If you're trying to plan for guaranteed income in the future, you can contractually ladder those lifetime payment start dates.

Similarly, if your nest egg is large enough so that your chances of running through it in your lifetime are very low or negligible, then you also may not need any type of guaranteed income beyond Social Security, in which case you simply may not have to devote any of your assets to a longevity annuity or an immediate annuity.

There is also a sheet that allocates our spending for the next 3 months, basically utilizing all of our guaranteed income, based on a 4 week month.

Index - linked guaranteed income certificates (GICs) promise to safeguard a portion of investors» portfolios, and in volatile markets like the ones we've been experiencing, these products may seem like an appealing place to put some of your money.

An example of the Stairstep Ladder is to have contractually guaranteed income start in three, five, seven and 10 years.

The later you start, the shorter your life expectancy, which in turn means a higher guaranteed income amount.

You are receiving disability income provided by either a private insurer or the government and are guaranteed this income for life.

A fixed annuity allows you to avoid market volatility, while still receiving the benefits of guaranteed income and tax - deferred * growth.

For example, let's say your surviving spouse wants a guaranteed income for the rest of her life.

You give up some of your potential capital gains for guaranteed income and added safety.

-- are growing in popularity — these allow you to use Qualified savings to buy an annuity for guaranteed income and as an added bonus they allow you to

What sets annuities apart from any other financial product is that it provides a contractually guaranteed income stream regardless of how long you live.

For a business without a guaranteed income stream, it can be dangerous to take on a liability that demands a large lump sum payment.

Previous studies from Towers Watson and the RAND Corporation showed that retirees who received guaranteed income from pensions or annuities tended to experience higher levels of satisfaction in retirement.