The Secret to Making Your Money Last After You Retire

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Any references to protection benefit or lifetime income generally refer to fixed insurance products, never securities or investment products. Insurance and annuity product guarantees are backed by the financial strength and claims paying ability of the issuing insurance company .An annuity is intended to be a long-term, tax-deferred retirement vehicle. Earnings are taxable as ordinary income when distributed, and if withdrawn before age 59½, may be subject to a 10% federal tax penalty. If the annuity will fund an IRA or other tax qualified plan, the tax deferral feature offers no additional value. Qualified distributions from a Roth IRA are generally excluded from gross income, but taxes and penalties may apply to non-qualified distributions. Consult a tax advisor for specific information. This is not a recommendation to surrender or otherwise purchase an insurance product. You should review your specific policy and financial situation with your advisor.
Are you confident your retirement income will last 20–30 years… or are you just hoping it will? On this week's Ascend360™ Insider, Bill Smith, RICP®, MRFC®, CEO and Founder of W.A. Smith Financial Group, shares the three most important principles that could stretch your savings further. Learn why organizing your withdrawals by purpose, timing, and tax impact could be the key to long-term security.
