As retirement approaches, ensuring a stable and sustainable income stream becomes a priority for many individuals. With Goldstone Financial Group’s recent update, clients can learn more about the benefits of adding annuities to their retirement portfolios, which, with the right strategies, can be used to enhance retirement income.
For more information, visit https://www.goldstonefinancialgroup.com
Following the announcement, the financial advisors can educate clients about the different types of annuities available to them and help them choose the most suitable one for their needs. Fixed annuities, for example, guarantee a certain payment amount, while variable annuities fluctuate based on the performance of an investment portfolio.
Goldstone Financial Group explains that individuals who have maxed out contributions to other tax-advantaged retirement accounts like 401(k)s or IRAs can also benefit from annuities. Money invested in an annuity grows tax-deferred until withdrawals begin, which can be an effective way to bolster retirement savings.
Aside from the tax advantages, annuities also address the risk of longevity. With life expectancies increasing, there’s a genuine concern about outliving retirement savings. An annuity’s lifetime income stream can serve as a safety net, giving retirees peace of mind.
However, Goldstone Financial Group warns clients that annuities can be complex and may come with high fees. They are also often not liquid, meaning investors can’t easily access their money in case of an emergency without paying a surrender charge.
Given their potential benefits and drawbacks, whether an annuity is a good fit for an individual’s retirement plan depends on various factors, including their financial goals, risk tolerance, and retirement timeline. Goldstone Financial Group helps clients understand these risks and make conscious decisions about their financial plans.
The company’s team of experienced financial advisors can provide guidance on the specific terms and conditions of the available annuities and determine whether they are suitable for the individual. They will develop a comprehensive retirement plan based on the individual’s goals, existing assets, and risk tolerance.
Interested parties who want to know more about annuities may visit https://www.goldstonefinancialgroup.com/contact-us
Goldstone Financial Group
18W140 Butterfield Road