How can an annuity income rider give you more peace of mind in retirement?
There are three main ways to guarantee income in retirement. The first is a pension, the second is Social Security, and the third is adding an income rider to an annuity.
This third option creates, in essence, a personal pension paid directly to you every month for the rest of your life.
In part five of our “Annuities – Why Ever Use Them” series, we discussed how attaching an income rider to an annuity can produce guaranteed income – if you haven’t listened to that episode, please do give it a listen.
In this episode, we continue the conversation by diving further into detail about why we recommend adding an income rider to an annuity. We also explain how the rates of return work for your account value and the income rider.
In this episode find out:
- A quick recap of our annuities series so far
- How to get peace of mind with more guaranteed income
- Why you should add an income rider to your annuity
- How rates of return work for your income rider and your annuity
- How income riders provide guaranteed income even if your annuity account reaches zero
Tweetable Quotes:
“Adding an income rider to your annuity creates your own personal, private pension” – Murs Tariq
“If you've got $200,000 in an annuity with an income rider, that's going to pay you $1,000 a month, or $12,000 a year, guaranteed for the rest of your life.” – Radon Stancil
Important Links & Mentions:
Find parts 1-5 of the “Annuities – Why Ever Use Them” series on your podcast app or watch the video versions on our Secure Your Retirement YouTube channel:
Book your free 15-minute call with our advisors to discover how an annuity income rider could benefit your retirement plan: https://pomwealth.net/
Resources:
If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary video course, Four Steps to Secure Your Retirement!
To access the course, simply visit POMWealth.net/podcast.
To receive our free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on Apple Podcasts and send a screenshot to morgan@pomwealth.net.
