Sentences with phrase «annuity as an income source»

Not exact matches

Employees are interested in annuities and might need that guaranteed source of income as the first wave of workers lacking company pensions moves closer to retirement.

You don't have to watch your savings rapidly dry up as you do with many other income sources — such as life insurance policies or annuities.

An income annuity may be the right choice for you if you have a need for guaranteed lifetime income; you know your retirement expenses won't be covered by other income sources, such as Social Security; and you have assets outside of the annuity to cover unexpected expenses.

For many people, it's helpful to start by grouping potential sources of income into 2 basic buckets: guaranteed income from sources such as Social Security, pensions, and annuities, and variable income from a job, retirement savings, and other sources such as rental real estate.

Johnson said that people who are approaching retirement should consider purchasing an annuity as a source of guaranteed income to help cover their basic living expenses in retirement.

An income annuity can also act as bridge if you choose to delay taking income from other sources.

The availability of income from other sources, such as savings, pensions, mutual funds, or annuities, can affect someone's claiming strategy, too.

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.

Guaranteed sources of income, such as annuities, can help diversify financial products in a retirement plan and add an element of protection.

For many people, it's helpful to start by grouping potential sources of income into 2 basic buckets: guaranteed income from sources such as Social Security, pensions, and annuities, and variable income from a job, retirement savings, and other sources such as rental real estate.

If you have the entirety of your retirement income coming from taxable sources such as traditional IRAs, annuities, 403 (b) plans and traditional pensions, you could inadvertently push yourself into a higher tax bracket and render a portion of your social security income taxable.

The only way you'd have the same tax bracket as entry is if you continued to have other sources of income (annuities, rental revenue, taxable accounts, etc) which brings you into the 25 % bracket ($ 36,900 at the moment) BEFORE tapping your retirement account (s)

Among the issues you'll need to consider as you create an income plan: How much you'll receive from Social Security and whether you should you consider delaying claiming your Social Security benefit to boost the size of your check; how much of your nest egg's value can you withdraw each year without incurring too big a risk of running out of money before you run out of time; and whether you should devote a portion of your savings to an immediate annuity or a longevity annuity, so you'll have a another source of guaranteed lifetime income in addition to Social Security.

If there's a gap between expenses and savings, you might need to think about other ways to contribute to retirement accounts or build savings in other potential income sources, such as annuities or life insurance policies that grow cash value.

* In the meantime, you can use withdrawals from taxable savings accounts or guaranteed income sources such as annuities to cover your expenses.

A: One way to help ensure you won't outlive savings is to put some savings into a guaranteed income source, such as a deferred annuity.

If you're worried about that uncertainty, consider adding a source of guaranteed income to your savings mix, such as an annuity — these products can provide a stable source of income to pay bills, regardless of what happens in the market.

More than half of the older retirees queried for New York Life said that income from sources like Social Security, pensions and annuities gave them greater peace of mind than managing investment accounts on their own, and nearly 90 % said they would advise younger generations to consider creating pension - like income as well.

A variety of studies have shown that retirees who receive guaranteed income from sources such as pensions and income annuities tend to be happier in retirement.

The cover - the - basics approach aims to match your fixed expenses with fixed sources of income, such as Social Security, pensions and immediate annuities.

Of course, if you receive your income from non-employment sources such as an annuity, this becomes something of a moot point.

However, if you wait to age 70 to collect benefits and you are not working, you need to make sure your other sources of income, such as pensions, annuities, and investments, meet your expenses.

An annuity provides a predictable and reliable income stream for as long as you live, and can be used to supplement existing sources of income in retirement such as RRIFs and other plans.

Fixed income annuities provide a guaranteed source of income for as long as you live or for a fixed period of time.

Immediate income annuities can offer peace of mind knowing that you have a source of guaranteed income that will last as long as you want, or as long as you live.

A deferred variable annuity can supplement other income sources after you retire or make up for the pensions you may have lost, as well as provide the advantage of guaranteed benefits.

Traditional investments, such as bonds, and other insurance products, like annuities, may offer more stable and straightforward, if less sexy, sources of income in your retirement years.

(8) «Income» means any form of payment to an individual, regardless of source, including, but not limited to: wages, salary, commissions and bonuses, compensation as an independent contractor, worker's compensation, disability benefits, annuity and retirement benefits, pensions, dividends, interest, royalties, trusts, and any other payments, made by any person, private entity, federal or state government, or any unit of local government.