Retirement Income Planning
Income Planning for the Retirement You Want to Live
The Retirement Income Challenge
Retirement planning has changed. Many retirees are living longer, relying more on personal savings, and facing the possibility that expenses may rise over time.
A retirement income strategy should consider:
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How long your income may need to last
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How market performance may affect withdrawals
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How inflation may reduce purchasing power
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How much liquidity you may need
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How taxes may affect withdrawals
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How guaranteed and non-guaranteed income sources work together
The goal is not simply to own a product. The goal is to create a retirement income plan that fits your financial life.
Building a Retirement Income Strategy
A retirement income plan may include several sources of income and liquidity. These may include Social Security, pensions, investment portfolios, cash reserves, retirement accounts, taxable accounts, and insurance-based income strategies.
Infinity Financial Services helps clients evaluate how these different sources may work together based on individual needs and objectives.
Our Retirement Income Review Process
Infinity Financial Services follows a client-focused review process before recommending a variable annuity.
Step 1: Understand Your Retirement Goals
We begin by discussing your retirement income needs, lifestyle goals, current income sources, investment experience, time horizon, and financial concerns.
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Step 2: Review Your Current Financial Picture
We review your existing assets, income sources, liquidity needs, risk tolerance, tax considerations, and current annuity or insurance contracts, if applicable.
Step 3: Evaluate Available Strategies
We compare different retirement income approaches, which may include portfolio withdrawals, cash reserves, Social Security timing, pensions, fixed income, insurance-based income strategies, and variable annuities.
Step 4: Review Product Features and Costs
If a variable annuity may be appropriate, we review the product’s features, fees, surrender charges, rider costs, investment options, tax treatment, liquidity limitations, and risk factors.
Step 5: Determine Whether the Strategy Fits
A recommendation should be based on your individual circumstances. The goal is to determine whether the strategy is suitable and in your best interest based on your needs, objectives, and available alternatives.
Step 6: Ongoing Review
Retirement income planning should be reviewed over time. Changes in markets, income needs, health, expenses, tax laws, and family circumstances may affect your strategy.
Start with a retirement income conversation.
A retirement income strategy should begin with your goals, not with a product.
Infinity Financial Services can help you evaluate whether a variable annuity may fit within your broader retirement income plan. We will help you understand the potential benefits, costs, limitations, and risks before you make a decision.
Important Disclosures
Variable annuities are long-term, tax-deferred investment vehicles designed for retirement purposes. They involve investment risk and may lose value.
Optional benefits are available for an additional cost and are subject to contract terms, conditions, limitations, and restrictions. Guarantees are subject to the claims-paying ability of the issuing insurance company and do not apply to the performance of the underlying investment options.
Withdrawals may be subject to ordinary income tax and, if taken before age 59½, may be subject to an additional 10% federal tax penalty. Withdrawals may also be subject to surrender charges and may reduce contract value, death benefits, and optional living benefits.
Investors should carefully consider the investment objectives, risks, charges, and expenses of a variable annuity and its underlying investment options before investing. This and other information is contained in the prospectus. Please read the prospectus carefully before investing.
This material is for educational purposes only and is not a recommendation to purchase, sell, hold, or exchange any variable annuity. Product availability, features, benefits, riders, fees, and limitations vary by contract and state.
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