Boulder City Magazine is a monthly publication full of information about Boulder City and Southern Nevada. Boulder City Magazine features the Boulder City Home Guide, a real estate guide to Boulder City and Southern Nevada.

Money Matters
by Wendell Whitman
Edward Jones

Need to Boost Retirement Income? Variable Annuities

Retirement doesn’t come inexpensively. That’s why it’s a good idea to contribute as much as possible to your IRA and your 401(k) or other employer-sponsored retirement plan. But if you still have some money left to invest, consider a variable annuity.

A variable annuity offers a variety of benefits. For one thing, your earnings have the opportunity to grow tax-deferred. Also, you can usually choose from a variety of investment options. Plus, you can typically contribute more to your variable annuity than to your 401(k) and your IRA.

When it’s time to take payouts from your annuity, you have great flexibility. You could, for example, choose to receive a lifetime income stream.

Of course, the word “variable” is there for a reason — your annuity’s account value will fluctuate with the market and is subject to loss of principal.  Variable annuities are not suitable for everyone.  They are long-term investments designed as one component of saving for retirement.

Still, in your quest to achieve a comfortable retirement, you may find that a variable annuity is a valuable asset — so give it some thought.

To Retire Comfortably, Know Which Moves to Make — and When to Make Them

We all want a comfortable retirement. To achieve it, we’ll need to make different moves, and consider different issues, at different times of our lives. 

For example, when you have many decades to go until you retire, you may want to invest a higher percentage in growth-oriented investments for your IRA and. 401(k), keeping in mind that short-term market declines are a normal part of investing.

Fast forward to when you’re a few years from retirement. At this stage, you may want to boost your retirement income. One possibility is to consider an annuity, designed to provide a lifetime income stream.

Once you retire, you’ll need to look at other decisions, such as when to start taking Social Security and how much to withdraw each year from your IRA and 401(k).

By working with your financial professional, you can make a plan to help you meet the retirement lifestyle that you’ve envisioned.

Contact Wendell at Edward Jones

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