Income and Savings in Retirement

Do you want to work hard all your life only to be poor at the end of it? If you’re like most people, the answer to that question is a resounding “NO”. However, thanks to modern medicine, people have increasingly longer life expectancies. That means the two big questions people have to answer at some point are: how long will I live – and will I have enough money saved to make it to the end of my life?

Don’t Run out of Money

Running out of money before you run out of life is the biggest fear many retirees face. And, for generations without guaranteed pensions, it’s not just a night terror—it’s a realistic concern. What are income-based solutions to keep from running low in retirement? To be realistic, a retirement backup plan needs to be entirely under your control. It can’t rely on good fortune, the benevolence of others, or external economic conditions. Do you have a plan for steady, guaranteed monthly income? What will your monthly income look like when you will retire?

Start Planning for Income

Making your retirement income last a lifetime is a task that many people struggle with, and many even fail. No one wants to happily retire only to be forced back into the work field a few years later, working a minimum wage job just to keep a roof over their head. If running out of your income isn’t an option for you, the time to plan ahead is now. At Compass Retirement, we know how to make every dollar stretch. We know how to secure guaranteed monthly income for the rest of your life. We know what to invest in, and what to say “no” to. Invest in your future now so that you don’t have to go back to work later. What are you waiting for?  Let us help.

Retirement & Taxes