Greg Shepard - S&A Financial Services, Inc.
#tiaatraditional #tiaaa #tiaa
Greg Shepard from S&A Financial Services is back with valuable insights for those navigating their higher education retirement plans, particularly TIAA accounts. In this video, Greg shares a real-life story that highlights the importance of considering a lifetime income annuity option.
Key Points:
1. Planning Your Retirement Income: Greg recounts a situation where a client, a retiree, took control of her finances after her husband's passing. Unfortunately, this newfound access to liquid retirement funds led to excessive spending, which put her financial security at risk. The key lesson is the importance of having a well-thought-out plan for managing your retirement income, especially when your retirement accounts are liquid and accessible.
2. Understanding Lifetime Income Annuities: Greg explains the concept of lifetime income annuities. These annuities provide retirees with a fixed monthly income that's not as liquid as standard retirement accounts. They can be an excellent option for individuals who have concerns about overspending or those who want to protect themselves financially and ensure they have a steady stream of income in retirement.
3. Why Consider a Lifetime Income Annuity: Greg delves into the reasons why lifetime income annuities might be a suitable choice. One primary reason is self-control. If you're concerned about overspending in retirement and want to ensure a stable income for life, a lifetime income annuity can provide financial security. Additionally, if you have children who might depend on your finances, an annuity can safeguard their financial independence.
This video serves as a reminder that careful planning and informed decisions are essential for a secure retirement. Greg's real-life story illustrates the potential pitfalls of unrestricted access to retirement funds and highlights how a lifetime income annuity can provide peace of mind and financial stability in retirement.
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email: greg@shepardfinancial.com
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Disclosure S&A Financial Services, Inc. is a registered investment advisor. Content presented is for informational purposes only and should not be considered as investment advice or as an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Always consult with your tax advisor or attorney regarding your specific situation.
14 окт 2024
