Updated: Aug 13, 2021
If you answered $5,000 per month for life, you are like 62% of Americans.
Sure, instant money is tempting, but what are you going to do with it? Is it going to be worth the same in 10, 20, or 30 years? Doubtful. Let's learn how to defeat running out of money and inflation together to create a comfortable retirement.
Social Security is causing retirement insecurity
and 60% of Americans fear running out of money in retirement.
Mismanaged pension plans add to their fear. That is why more and more people are looking for alternative retirement incomes that come with guaranteed monthly income, regardless of the current economy.
Suppose you have a nest egg of $1,000,000 in a 401k or IRA type plan, and the index takes another 30+% hit. now you have INSTANTLY lost $300,000. How long would that money have kept the lights on or mortgage paid?
Now let's suppose you had a guaranteed monthly income of $5,500 for the rest of your life... It would equal $1,000,000 of payouts in about 15 years; yet you are still enjoying the retired life...