Income in retirement is a key part of success in life after work. However, in a 2017 Retirement Confidence Survey by the Employee Benefit Research Institute, almost 24% of workers said they had less than $1,000 saved for retirement.1 Another 55% of retirees had less than $50,000.1
Fortunately, there are several ways to create income in retirement including annuities, real estate, some life insurance policies, part-time jobs, investment options, and more. We work with you to create income streams in retirement to help supplement Social Security income and discover other sources of income you may not have realized are possible.
Social Security Planning & Optimization
After the financial crisis of 2008, many retirees 401(k)s and retirement savings took a hit. Because of this, Social Security is a crucial part of retirement savings for many baby boomers today. In order to help plan for retirement, we look holistically at your income from your retirement accounts and your Social Security income.
Fixed Index Annuities (FIAs)
At NorthStar Financial & Retirement Planning, we work with you to create a plan for your fixed index annuities. These complicated products deserve the best-in-industry level of service and attention to detail. If you don’t have FIAs yet, they may be a solid option for you to round out your portfolio and grant dependable income in the near future. Our team of professionals can help!
Looking for sustainable retirement income? Depending on your unique situation, annuities are still a viable and dependable option for your income planning. Our team believes annuities aren’t right for everyone, but they are perfect for many others. Discover new income options and more through annuities!