Bringing Balance to Your Retirement Portfolio
In our hectic lives, balance is something many of us strive for. From work and personal time balance to balance in your checkbook, or balance in your yoga class, we’re all looking for a little more of it.
But, have you thought about ways you should be balancing your retirement portfolio? Check out 3 tips on how to make sure you’re not putting all your financial eggs in one basket:
Take advantage of employer offered programs. Many employers not only offer retirement savings programs like 401(k)s, but many will match a certain percentage of your contributions. Not participating in this program is like leaving free money on the table. It’s important to balance more risky decisions with reliable ones like a retirement savings program.
Relying on Social Security Only. It’s no secret that Americans are questioning the future of Social Security. The problem, however, is that 2 out of 5 boomers think they will get more money from Social Security than the average monthly payment, according to a recent study conducted by the IALC. Social Security might not be enough to get you through retirement comfortably, so it’s crucial to remember to supplement with other retirement products.
Look into other balancing options. Some retirement products, such as fixed indexed annuities, can help bring balance to your portfolio. Combining a fixed indexed annuity, which can help provide guaranteed lifetime income, with some other, more risky products, can help even out risk and set you on the path toward a successful retirement savings strategy.
Source: Indexed Annuity Insights
Bringing Balance to Your Retirement Portfolio
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