Thinking about retirement: 3 ways to have an additional income

Retirement and, above all, being able to enjoy it comfortably, is an increasingly widespread concern. We tell you what options you have to be able to enjoy additional income when the time comes.

It’s never too early to think about the future. In most cases, the public retirement pension will be less than the salary that has been received while active. So much so, that according to the Organization for Economic Cooperation and Development, the value of retirement benefits in United State compared to the income received while working is 81.2%. In other words, it is calculated that the public pension will be the result of subtracting 18.8% from the income you received while active.

Therefore, saving and forecasting play, without a doubt, a central role when considering your retirement in such a way that you maintain economic stability and standard of living. Currently, there are multiple options that allow you to increase long-term savings and that make it easier for you to have additional income during retirement. At John Labunski we give you 3 options.

Insurance Roads Retirement

It allows you to invest your savings in a controlled way for the future, since you define the amount of your contribution. This guarantees you a minimum fund when the date to collect the benefit arrives. If you prefer to receive the total fund at that time, or if you choose to receive it in the form of income, it is also entirely up to you.

It must be taken into account when contracting it that our is a social security instrument, so you cannot collect the benefit while you are retired; you will not be able to redeem the money before since it is designed precisely for the moment of retirement.

Annuity

This option is very close to life insurance. Simplifying, it would be the guaranteed collection of a periodic income, until death, the amount of which will depend on the initial savings provided and the profitability offered by the insurance. In this way, it guarantees you a peaceful retirement without unforeseen events. In addition, it is inheritable, so it can also be a way to ensure the future of your loved ones . The life annuity, due to its multiple economic and tax advantages , as well as its flexibility, is a very interesting option to have that extra income in retirement without your savings being at risk.

In short, at John Labunski Dallas Caminos we have several options to guarantee a supplementary income when the time comes for your retirement. Do you already know which one you are going to choose for your future?