What Does Your Retirement Risk-Awareness Level Look Like?

When it comes to how alert you are to your financial situation, which one of these levels describes your current mindset or feelings best? 

• White: You’re completely relaxed, unconcerned about your financial situation, and are not making any plans or changes to your retirement strategy.
• Yellow: You’re at ease, and monitoring your financial situation. You know what your projected retirement strategy looks like and are aware of any possible challenges coming your way.
• Orange: You have spotted a possible risk to your retirement security and are preparing your response to it. Your attention is focused on the problem and actively looking for ways to resolve it.
• Red: You don’t have a clear plan for how you’re going to finance your retirement and are afraid of what your financial future may look like. Entering this mental space can involve a lot stress and anxiety.

While no one wants to feel like they’re in the red zone, you don’t necessarily want to be in the white, either. If you’re on the red end of the spectrum, it means you’re feeling a lot of stress, which is never good.

But, if you’re on the white end of the spectrum, then you may not be as alert as you need to be in order to spot potential issues long before they come up.

While it may feel relaxing to live your life in the white, the reality is that we all have to retire sometime and if you’re not making plans for it now and preparing for different scenarios you may face in the future, you could be setting yourself up for an uncertain retirement down the line.

How can you avoid being in the red? 

Having an annuity ready to pay you guaranteed* income for the rest of your life** means you’ll know the minimum amount of money you’ll be receiving in retirement. You could receive more, but you know that you’ll at least get a certain amount – whatever amount your annuity contract is for. 

These annuities can be customized to your needs and your personal situation – such as incorporating riders that will pay you as much as double or triple if you have a qualifying life event. For example, if you are later diagnosed with a major illness that results in hefty medical bills, there are certain riders you may be able to purchase ahead of time that will payout more to help you meet those obligations, if they arise.

Don’t live your life concerned about your retirement. Get the tools and resources you need to help protect your retirement income. Call for your free risk consult today at 337-551-3741.