When it comes to retirement planning, many individuals strive for two key goals: the ability to enjoy a higher standard of living during their younger and healthier years and the desire to leave a financial legacy for their children or loved ones. Achieving these objectives often involves making strategic financial decisions that can impact one’s retirement income and financial security.

A recent study by Blackrock highlights three key strategies that can help individuals enhance their retirement outcomes. These strategies include creating guaranteed income, delaying your Social Security benefits, and adopting a slightly more aggressive approach to asset allocation. By implementing these measures, individuals can potentially reduce downside risk, increase annual spending, and secure a higher spending floor well into their 90s, providing them with the flexibility to enjoy their hard-earned savings or leave a larger inheritance for their heirs.

One of the critical components of this strategy is the consideration of guaranteed income, particularly through annuities. An in-depth analysis of various annuity options, including factors such as interest rates, bonuses, roll-up rates, and distribution rates, can help individuals identify the most suitable income stream to support their retirement lifestyle. By focusing on maximizing income potential from top-rated insurers, individuals can work towards securing a stable and increasing source of income, thereby enhancing their financial security in retirement.

The BlackRock study can be found here:

https://www.blackrock.com/us/individu...

#boomer #money #retirement #retirementplanning

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In this FREE training, Darryl Rosen, the founder of Securement Wealth Management, discusses the impact of bear markets and retired individuals drawing from their portfolios. He highlights the significance of timing in relation to these market downturns and the potential long-term effects on a portfolio.

To mitigate the risks, Darryl proposes investment segmentation as a solution to sequence of returns risk. This strategy involves segmenting investments based on the level of risk and the timing of when the funds will be needed.

By doing so, individuals can better manage their risk exposure and optimize their spending and savings throughout retirement. Make sure to watch a free video presentation that delves deeper into the concept of investment segmentation and its potential to safeguard and grow wealth.