For me, it was about being able to get a good night’s sleep
It’s no secret. We all know that we need to plan for retirement. We know we need to save and have very good intentions. But unfortunately, for some, the “I Will Start Tomorrow Savings Plan” never materializes.
A woman raising a family is faced with competing needs for her savings dollar. Often, she will forgo a career to raise her family or put off her retirement savings to fund educational expenses for her children. Or maybe she needs to take care of elderly parents. Whether she works at home or outside the home, the key to a financially secure retirement is early planning and disciplined savings habits.
Not only is saving dollars for retirement important but choosing the right plan can be just as important. There are employer sponsored plans, CD’s, stocks, bonds and mutual funds. But which one is the best? Well, there is no single one answer. Your future retirement income is highly dependent on cash deposits, the time frame available for accumulating the funds and the performance of the funds. And what is the biggest question of all when deciding on a retirement plan? What is your tolerance for risk?
For me, the answer in choosing the right retirement plan all came down to one thing. It was all about getting a good night’s sleep. I wanted safety and guarantees. I wanted to know that the money I had worked so hard to save would be there when I needed it. I wanted steady growth without the risk of losing my principal and the interest I had already earned.
That is why I chose a Fixed Index Annuity (FIA) to accumulate dollars for my retirement plan. The Fixed Index Annuity (FIA) guarantees the safety of my principal and a predictable income for a more secure retirement. It allows me to participate in the gains of a stock market index with no downside risk. It allows my retirement dollars to accumulate tax deferred (until I need it) which allows me to earn interest on my principal, interest on my interest, and interest on the money I would have had to pay Uncle Sam. In the event of my death, it allows my retirement plan to pass on to my beneficiary and avoid probate.
I don’t have to worry about “Bulls and Bears” or “The Closing Bell”. My retirement dollars are growing and they are safe .... And for me, that’s all about getting a good night’s sleep.
Rebecca Thacker is vice president of Bay State Insurance Agency Ltd in Centreville. She earned her Chartered Life Underwriter and Chartered Financial Consultant designations through The American College. She and may be reached at 410-7581680.
Compass Regional Hospice chose Kurt Riehl of Centreville as its most recent volunteer of the month.