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Attention Retirees: Do you have (or are you considering) an annuity that guarantees a 7% return?
If so, listen closely, because I believe that many retirees that have purchased annuities with an income guarantee have done so under false pretenses. They think it works one way when in fact, it doesn’t even come close to working the way they think!
Imagine putting your nest egg into something because you think it guarantees you a 7% return—only to find out later that it doesn’t! How would that make you feel?
Your Common Sense Advisor Week In Review: Successful Long Term Investing.
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Your Retirement Income Strategy – A Good Option
This is the simplest strategy and doesn’t require any special retirement income investing knowledge.
The risks are easy to see. This option is to rely on ultra-safe investments like CD’s or government guaranteed bonds. There are even inflation protected treasury securities. Frankly, I think you are better off using CDs than buying one of those annuities we’ve been talking about. They don’t fluctuate based on the market, what you see is what you get—there’s no hidden surprises.
Better yet, you don’t risk losing any principal like you do in an annuity. The most you can lose with a CD is some of the interest you’ve earned (assuming you are under the $250,000 per bank limit).