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

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.

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. 

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Contact us today with any questions, concerns, or just to stay connected.

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Want more information on Annuites or managing your Retirement Income?

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