Money

IS YOUR RETIREMENT INCOME PROTECTED? 9 QUESTIONS TO ASK

When it comes to retirement relying solely on savings and Social planning, anxiety comes Security. with the territory. Will you be able to maintain your lifestyle in Eighty-eight percent of protected retirement? Will you have enough households say they are confident to cover your monthly bills without that their retirement money will depleting your savings? Are you help them achieve their lifestyle at risk of outliving your money? goals, while only sixty-three percent While such concerns are common of unprotected households feel among Americans approaching confident. retirement, protecting part of the money that you’ve saved to ensure “The American retirement monthly income for life can make a discussion has traditionally focused difference in your confidence about on accumulating assets rather than the future, suggests a new study. how to turn some of those savings into a guaranteed monthly income A new survey by the Alliance for that will last as long as you do,” says Lifetime Income looked at the Colin Devine, educational advisor emotional and physical well-being of at the Alliance for Lifetime Income. Gen X and Baby Boomer households “People don’t realize that Social and compared those with some Security is estimated to replace only form of protected lifetime income, about 40 percent of the average such as an annuity and/or pension, person’s income, which leaves to those that were unprotected and millions of Americans vulnerable to outliving their hard-earned savings.” 6. What if I need access to my

RELIABLE, KINDHEARTED IN-HOME To get confident about your financial plan for retirement, Devine 7. Can annuities help protect me

CAREGIVERS FOR OLDER ADULTS WITHIN THE COMMUNITY says that you should understand all your options for protecting a portion of your retirement income from from investment losses? 8. How do I know that my protected the impact of market volatility and income is safe? longer lifespans. money in an annuity? Locally owned 9. Are there other strategies for & operated by The Alliance outlines nine key protected monthly income? Eric & Denise Kaye questions that you should ask your financial advisor to make sure “Discussing these topics with your that you’re on track to having the financial advisor can help you lifetime income you can count on become better informed about your • Personal Care • Housekeeping for the retirement you want: income planning options, putting • Dementia Care • Meals • Transportation • Medication Reminders 1. Why is protected monthly income in retirement important? you one step closer to creating a financial plan that delivers what you need to live the life you want in CONNECTIONS IN HOME CARE, LLC 2. How much protected monthly income will I need in retirement? retirement,” says Devine. Visit www.RetireYourRisk.org for 3509 E. Shea Blvd. Suite 108 more information on how to create Phoenix, AZ 85028 3. What if my expected monthly and protect your retirement income. (602) 708-8626 income is less than what I need to last my lifetime? Don’t succumb to anxiety about For assistance a few hours a day your financial future. With the right up to 24-hour care. 4. What is an annuity? knowledge, you can help ensure a comfortable retirement. www.chcaz.org 5. Are there costs associated with guaranteed protected income? (StatePoint)