How to make the funds in your 401(k) or IRA more like a pension

Imagine you’ve built up a sizable retirement savings in your employer-sponsored retirement plan or your own IRA account, and you’re getting ready to retire. But without a pension, how do you make sure you have continuous income to fund your retirement years? Social Security won’t cut it. It’s too little, and who knows how long it will be there?

How do you use your savings to fund your retirement? How much can you withdraw at a time? How do you know how long you’ll need the money to last? What if you run out of money? What if you spend too little because you’re afraid of running out of money? In other words, how can you make the funds in your 401(k) or IRA more like a pension?

One popular option is to use a portion of the funds to purchase an annuity, which will provide you a stream of income like a pension.

To learn more:

Create Your Own Pension

If you are ready to discuss strategies to take control of your retirement, contact me for a complimentary consultation:

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