Retirement Income & Investment information at Cardinal Guide

Retirement Income & Investment

When retired, you move from accumulating savings to making withdrawals from savings to supplement Social Security.The low interest rates of the last decade make it difficult for retirees to live off their savings without drawing down their principal. It’s important you have a plan to make your savings last your entire lifetime.

Using annuities, you can be guaranteed a lifetime income. Annuities provide protection and guarantees against some very large concerns: market losses, outliving your savings, and not having enough money to pay long-term care expenses.

Questions we can answer

Make Your Money Last As Long As You Do

When you turn 65, and then 75, and you’re looking forward, income and the guarantees of income will become more important to you than investment returns. Cardinal can help you create a diversified asset portfolio that will last your entire lifetime.

Cardinal Lessons on Retirement Income

Retirement Income Plan Cash Flow From Age 65-95

In today’s Cardinal Lesson, we’re talking about retirement income planning—covering cash flow, paying taxes in retirement, and creating a financial plan that balances needs and wants. Meet Tom and Chelsea, a couple turning 65 with $3.5 million in retirement savings. Through their case study, we’ll demonstrate how to structure a comprehensive retirement income plan that provides financial security and peace of mind. This is the first in a series of videos focusing on Tom and Chelsea’s retirement journey. Stay tuned for next week’s video, where we’ll explore Roth conversions and how they fit into a comprehensive financial plan.

Guaranteed Income For Life: A License to Spend

Welcome to today's Cardinal lesson! Today, we're diving into the concept of guaranteed income for life, much like your Social Security check—a steady stream of income you can count on. Join us as we discuss why some retirees find it challenging to shift from saving to spending, and how income annuities can provide the psychological freedom to enjoy your hard-earned savings. Join us as we unravel the complexities of retirement planning and empower you with strategies to live your retirement to the fullest.

Retirement Planning Decisions at 64 ½

Welcome to today's Cardinal lesson! Join us as we examine the crucial decisions you face in your 60s, especially around Medicare and retirement planning. Many people come to us around 64 and a half, just before Medicare eligibility, often unaware of the choices ahead. Today, we focus on preparing you well in advance so you're not caught off guard. Tom and I will guide you through these pivotal decisions and their broader impacts on your financial future. Whether it's Social Security timing, Medicare options, long-term care considerations, or managing your IRAs and 401(k)s, each decision intersects and influences others. Our goal is to empower you with knowledge and tools to make informed choices.

Annuity Income Rider Explained

Welcome to Cardinal Advisors! In today's lesson, we're diving into the intricacies of annuity income riders. Simply put, an income rider attached to an annuity policy guarantees a steady income for life once elected, regardless of market conditions or account balance. Today, we'll explore how these riders work, focusing on one from Midland National and similar offerings from over 50 insurance companies we partner with.

$200,000 Annuity 10 Years Later

Learn how to maximize your investment income utilizing annuities and transfer of investment funds! The master's at Cardinal Investors, utilizing Annuity investments can help you meet your investment and retirement goals quickly and efficiently. We have decades of experience helping people meet their investment needs, learn how our Annuity strategies can help you increase your investments! Visit us online today at www.cardinalguide.com

Turn Your IRA/401k Into A Pension Check

Welcome to our comprehensive guide on transforming your retirement savings into a dependable pension check, a crucial topic for Baby Boomers and retirees seeking financial stability. In this video, Hans Scheil and Tom Griffith discuss the pressing concern many face today: the fear of outliving their retirement funds. Click on our video to learn more!

SPIA-Single Premium Immediate Annuity

Welcome to our latest Cardinal lesson where we talk about essential financial planning tools to secure a steady income stream during retirement. In today's video, Hans Scheil and Tom Griffith discuss the pivotal role of annuities and Social Security in retirement planning.

7 Worries – Retirement Planning

Welcome to our special video where we explore the essence of what we do at Cardinal. Our journey on YouTube started somewhat accidentally, but it's blossomed into a thriving community. Today, we focus on the core of our mission: addressing the seven critical worries in retirement. These worries aren't just about what keeps you up at night; they're about making informed decisions in pivotal areas of your retirement planning, often in your 60s, but sometimes earlier or later.

3 Retirement Income Annuities

This video aims to clarify common misconceptions about annuities, offering practical examples and 3 strategies for incorporating them into your financial plan.

Sequence of Returns Risk

In today's discussion, Hans and Tom shed light on the sequence of returns risk and its implications during retirement. It's not just about the average return but the order in which these returns happen. The risk is particularly pronounced when poor market returns strike early in one's retirement sequence.

Guaranteed Income – 3 Buckets of Money

Are you worried about not having enough money for your retirement? Meet Jake and Sally, our case study couple who face the same concern. In this video, Hans and Tom break down how to secure a guaranteed income for retirement using a 3-bucket strategy. They use Jake and Sally's real-life example with their $930,000 in IRA/401K, and how you can adapt this strategy to your retirement plan.

Retirees Running Out of Money Late in Life

In today's episode, Tom and I dive deep into what many consider the greatest retirement fear: running out of money. It's the elephant in the room that many of our clients are hesitant to address initially, but it's a fear that dictates their behaviors, decisions, and overall retirement planning. Remember, the right knowledge can pave the path to a stress-free retirement. #RetirementPlanning #FinancialSecurity #AvoidingRetirementPitfalls

The Cardinal Guide To: Retirement Income

Listen to learn:

As you age, we recommend you stop chasing return and start managing risk. Diversification is key to ensuring your money is protected against volatile markets. We can help you determine your risk tolerance and help you invest your money accordingly. Learn how we can help with planning and management of your investments over time

Understand your risk tolerance and what you are comfortable with. Cardinal has a risk tolerance profile that helps you determine where you need to be. The closer you are to retirement, or if you’re already retired, the less risk you want to take.

Fixed indexed annuities with income riders are generally misunderstood. They guarantee you will never lose principle from market losses plus guarantee an income you can’t outlive.

If you need long term care, paying for it yourself will create a big dent in your savings and income. Many fixed indexed annuities have long-term care enhancements and don’t require you to answer health history questions.

MYGAs (Multi-Year Guaranteed Annuities), commonly referred to as CD annuities, are increasingly popular, especially as interest rates remain low. A MYGA is a fixed annuity designed for accumulation. MYGAs offer a predetermined and guaranteed interest rate for a set period of time. MYGAs are currently paying significantly higher interest than CDs. You don’t pay tax on the MYGA interest until you withdraw it.

If most of your money is in an IRA, a simple way to create a monthly income is to roll some of this money into an annuity. If you do this the correct way, you could also lessen your tax bill, spreading the income over several years. You can also learn about Required Minimum Distributions and their impact.