May 2019 – Retirees, and those approaching retirement, need to know the options available to them to protect their lifestyles. Many of us worry about running out of money in retirement, or being unable to maintain our standard of living. The reasons include our increasing longevity, potential long term health care costs, lack of employer sponsored defined benefit pension plans, lower interest and global growth rates, and uncomfortable market volatility. Retirement income conversations typically focus on withdrawal rates for savings/investments, and don’t include the various guaranteed lifetime income options also available. Having guaranteed lifetime income usually eases worry for the retiree, but also for their spouse, who especially if younger, may worry there won’t be sufficient money left for their lifetime needs too, and for their children who worry they may need to support their parents. Guaranteed income solutions can be custom designed to address whatever the need: maximizing steady lifetime income for you and your spouse; providing liquidity, inflation protection, and tax efficiency; and estate goals.