Insured Retirement
Insured Retirement
Retirement is the reality of life. While many people today want to continue working till they are healthy or work on fun charitable projects, having the plan to retire when you want is true freedom.
I enjoy what I do and cannot see myself doing the typical retirement. However, I do have a list of projects that I want to be able to execute.
Retirement is also a big challenge for most people, and working with a knowledgeable financial advisor is critical, one that understands investments and insurance.
Again, the most common knowledge for retirement planning is to build a retirement account (401K, RRSP, etc.) and invest in marketable securities to use the gains from the portfolio when you retire. There are many different ways to design one’s retirement plan and portfolio. I am not going to cover all of that in this guide.
But income in retirement is one of the main goals. When you retire, you must have monthly withdrawals to pay for your living and lifestyle expenses. Since you will not have any active income, you will need a vehicle which could be either an investment, insurance (not many people know about this), or ideally, a combination of both.
Insurance may be an excellent strategy to get planned income in retirement without the risk of market investment. Many want to minimize risk during retirement and protect their leading portfolio from significant losses. Insurance may help you in this case.
Here’s a simple view of using a proper Insured retirement strategy (again, this may differ in your case specifically, where you may have one or both, but this gives you an idea of how this works and how it compares to your current plan).
