Chris Russen
Annuity Consultant

2020 has been a challenging year and some of your clients may be thinking that this may be a good time to retire. Let’s take a look at some myths of retirement planning:

  • Retirement means that my clients can stop investing.

Many clients see retirement as the end of their investing journey; however, many retirees will find reasons to start investing for other opportunities that may interest them. Also, many people are living longer and need to generate higher returns for a longer retirement period than previously thought.

  • I will need a lower income in retirement.

Many clients find their income need is not drastically lower in retirement that it was while they were employed. Early retirement years may be filled with new activities like traveling or helping kids and grandkids jump-start their lives.  Additionally, medical and long-term care costs are often overlooked and can be much higher than anticipated, adding to the need for higher ongoing income.

  • Annuities are Bad.

Each financial vehicle has pros and cons. The key to selecting the appropriate vehicle to use for your clients’ money is to identify the purpose for that pot of money.  Does the client need guarantees of principal, growth or income?  If so, annuities can be the right vehicle to fill these needs and help accomplish the clients’ goals.

These are just some of the considerations to address with your clients as they prepare for retirement. Contact the experts at Wholehan Marketing to discuss your clients goals and let us help you prepare them for the retirement they deserve!