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Safety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement (Retirement Researcher Guide Series)
SafetyFirst Retirement Planning An Integrated Approach for a WorryFree Retirement - Retirement Researcher Guide Series Author:Wade Donald Pfau, Wade Pfau Did you know that there is more than one way for retirees to meet their financial goals? Not everyone is comfortable relying on stock market returns from their investments. This book explains a different approach that first builds safety through a floor of reliable lifetime income. — This is the meaning of safety-first retirement planning. — ... more »In this book you will learn:
How risk-pooling through insurance works
Why risk pooling is a source of additional spending that is competitive with potential stock market returns
How commercial annuities provide this risk pooling in the same manner as Social Security or traditional company pensions
How replacing some bonds with insurance-based risk pooling assets can improve the odds for retirees to meeting their spending goal and to support more legacy at the end of life
I walk you through this thought process and logic in steps, investigating three basic ways to fund a retirement spending goal: with bonds, with a diversified investment portfolio, and with risk pooling through annuities and life insurance alongside investments.
I describe the potential role and underlying workings for different types of annuities including simple income annuities, variable annuities, and fixed index annuities. I explain how different annuities work and how readers can evaluate their options and make a choice about which way to go. I also examine the potential for whole life insurance to contribute to a retirement income plan.
When we properly consider the range of risks introduced after retirement, I conclude that the integrated strategies preferred by safety-first advocates support more efficient retirement outcomes. Safety-first retirement planning helps to meet financial goals with less worry. This book gives you the knowledge to evaluate different insurance options and implement these solutions into an integrated retirement plan.« less