People planning decades of retirement based on $1 million in savings need to recognize that amount is not nearly as valuable as it once was, experts say. Check out this article from The New York Times discussing the benefits that a single-premium immediate annuity and other fixed income products can have in helping you save for retirement. For example, a $1 million New York Life annuity bought by a 66-year-old man, with payments starting immediately, known as a single-premium immediate annuity, would pay $65,666 a year — far more than a 4 percent withdrawal from a $1 million pot.
Annuity Pros offers SPIA's and other fixed income products that cater to your specific retirement planning needs. Take a look and give us a call at (855) 300-0122 if we can assist you in any way.