One of the biggest problems for most Americans is understanding how to convert the balance they have saved in retirement plans, brokerage accounts etc. into an income they can use during retirement.
The financial services industry has done a masterful job at training “advisors” to help their clients accumulate cash. But very few advisors take the time to understand how to help their clients generate income.
On the surface, it doesn't seem like that difficult a problem.
You have a pot of money. You have social security. You need (x) amount in addition to what you're getting from social security to support your lifestyle.
And all of that is true, it's not a complicated problem. However, the solution involves much more strategic thinking than most people are willing or able to offer.
There are any number of ways that you can address the retirement income problem. This two-part series will focus on how life insurance fits into your retirement income strategy.
If you're interested in reading and/or listening to some of our other musings on the subject, here's a good list to get you started:
And as always, if you'd like to discuss the particulars of your situation, please use our contact form to get in touch with us.