|
"Our biggest fear is running out of money after we retire."
The Wilsons
Retirement signs ahead
Jim and Susan Wilson are a few years from a planned retirement, and they're worried. But despite the recent market performance, there are ways to restore their retirement plans.
Getting their plans back on the road may mean changes and tough choices, but the Wilsons have options. First step: assess where they are right now. Contacting their VALIC financial advisor should be a priority.
| > |
Safety belt Despite long-term concerns, your Social Security benefits have not been affected by stock market performance. In fact, you may be able to increase your benefits. |
| > |
Bridges ahead At retirement, your goals are capital preservation and a reliable income stream. Social Security and company pensions can help. To bridge the gap, a fixed annuity with a lifetime guarantee may help. Ask your VALIC financial advisor. |
| > |
Improving mileage Cutting expenses may be the simplest route to financial improvement. This frees up money for retirement savings and reduces the amount needed to fund your investment. |
| > |
Turbo booster. If you're 50 or older, you can make catch-up contributions to 403(b)s, IRAs, 401(k)s and other retirement accounts. Consider a taxable account, which has no income or contribution limits and no distribution rules. |
| > |
Coast to the finish line Consider delaying retirement. A one- or two-year delay can have a triple benefit: building your account with contributions (and matching contributions), more time to benefit from compounding and reducing the years your savings needs to support you. |
Recommended maintenance
Online calculators: Click here to use VALIC's array of online calculators to: see if your retirement savings plan is on track, estimate your Social Security benefits, determine how you can stretch out your retirement plan distributions and more.
The Retirement Income Strategies Plan is for individuals either approaching retirement, or already in retirement. It focuses on the areas and decisions that are important to individuals in this stage of life. The Retirement Strategies Plan offers:
| > |
A clear snapshot of your current financial situation |
| > |
Income and distribution analysis |
| > |
Tax strategies for retirement |
| > |
Investment strategies designed for retirees |
| > |
A year-by-year look at retirement income |
| > |
Required minimum distribution analysis |
| > |
Information on long-term care, Social Security and estate planning |
|
|
|