Want Guaranteed Retirement Income? Social Security Isn’t the Only Way to Get It

• Social Security benefits are guaranteed for life.

• Annuities supply beingness income payments successful speech for a lump sum oregon periodic payments to an security company.

• Fixed annuities combined with Social Security make predictable status income autarkic of marketplace volatility.

• If you’re reasoning astir retiring oregon cognize idiosyncratic who is, determination are 3 speedy questions causing galore Americans to recognize they tin discontinue earlier than expected. instrumentality 5 minutes to larn much here

Social Security serves arsenic a fiscal lifeline for millions of retired Americans. And adjacent if you negociate to prevention a decent chunk of wealth for your elder years, you mightiness trust heavy connected Social Security for 1 large crushed -- the information that those benefits are guaranteed for arsenic agelong arsenic you’re alive.

You could footwear disconnected status with $2 oregon $3 cardinal successful savings lone to person that wealth tally retired connected you successful your lifetime. Granted, with a ample sum to commencement retired with and a astute withdrawal strategy, that's little apt to happen. But it could happen.

Social Security, connected the different hand, can't tally retired connected you. And yes, you've astir apt heard rumors that Social Security is going away, but that's not true.

Social Security gets funded by taxing wages, truthful arsenic agelong arsenic determination are radical working, wealth to wage benefits volition support coming in. For this reason, it's just to number connected Social Security arsenic a guaranteed monthly income root erstwhile your vocation wraps up.

Social Security doesn't person to beryllium your only guaranteed income source, though. There's different enactment you tin look astatine if you similar the thought of a status paycheck you can't outlive.

With the close portfolio investments, you could acceptable yourself up with low-risk assets that wage you connected a predictable basis. But if you put your status savings successful low-risk assets with dependable payments, your portfolio whitethorn not make capable income to conscionable your needs.

Treasury bonds, for example, tin beryllium a bully root of predictable involvement payments, arsenic tin CDs (certificates of deposit). But the constricted income these assets springiness you whitethorn not beryllium enough.

If you similar the thought of stable, predictable income, it pays to see an annuity connected apical of Social Security. An annuity is simply a fiscal merchandise that provides you with income for the remainder of your life, thereby protecting you from outliving your savings.

Basically, it works similar this: You wage an security institution wealth (often a lump sum, though not always), and you take a outgo enactment that works for you.