If you’ve ever worried about outliving your retirement savings, you’re not alone.
Understand the value
Retirement income planning in Oklahoma is a process that should create a predictable income stream for retirement. During retirement, it is critical to convert your accumulated assets and resources into a stream of regular cash flow similar to the monthly paycheck you receive while you are working. You need guaranteed income you can count on every month for the rest of your life.
Annuities may be able to help fulfill the need.
Annuities are products offered by insurance companies and other financial institutions that allow you to deposit money, either via a lump sum or regular installments, with a promise of receiving regular payouts at a point in the future.
Annuities can be structured in a number of ways, but as a rule, an annuity will give you some or all of the following benefits:
- Tax-deferred growth
- Competitive fixed rates of return
- Low risk
- Guaranteed income for a set term or for life
- May provide spousal benefits in the event of your passing
- Can help a portion of your assets avoid probate
Annuities can be complicated but can enhance your retirement portfolio with stable income. At Blackburn Financial in Oklahoma City, Oklahoma, we don’t just “sell” you annuities. We inform you about the product and your options, then, if an annuity is appropriate for your financial strategy, we can integrate annuities into your overall financial plan to help create a retirement strategy you can understand and trust.
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