Taxes, Stock Market Risk and Longevity Risk
A generation ago your parents had pensions, but that’s changed. Over the past 35 years that has changed and we have moved to 401k’s.
You need to create your own pension.
Losing money in the market is inevitable it’s only a matter of time.
If the market tanks when you’re 40 you still have time. But when approaching retirement, you don’t have the time for the market to come back.
As you come to retirement you need more guarantees and less risk.
Unless you’re super rich, you need guaranteed income.
Use annuities to cover your basic living expenses. A renewable resource for the rest of your life. Yes, they have fees but you pay for the guarantee. An annuity is not an investment.
Annuities in your Roth IRA are always tax-free.
The 3 Biggest Risks to Retirement
Taxes, Stock Market Risk and Longevity Risk.
Taxes: Cutting out Uncle Sam will always give you more money.
In retirement tax-free is always better.
Stock Market: Avoid large market drawdowns with a personalized “Risk Score”. This is so you can understand what risk you want, what risk you’re currently taking and what risk do you need in order to achieve your personal retirement goals.
Longevity risk- running out of money in retirement is the #1 fear for people approaching retirement or already retired.
If you would like a no obligation, second opinion into your retirement plan or current portfolio email us at info@crosspointwealth.com
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