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Retirement is supposed to be about freedom, right; have that peace of mind, know that when I retire, I’ll be able to pay my bills for the rest of my life. But your retirement account, we’ve learned from you, Brian, is not a paycheck. And if you confuse the two, that can sink your ship.
The paycheck disappears, but the bills don’t. That’s the retirement storm that most people aren’t ready for.
Ask yourself this, if the market fell 30% tomorrow, how would your current strategy hold up? And I think that’s what so many Americans worry about.
When you look at the data, it shows that people will typically run out starting in year 15 and on, depending on what the stock market has been doing at the beginning of the retirement.
The idea of the annuity is that if the balance ever does hit zero, you’ve signed a contract with the insurance company that says as long as you’re alive, we will continue to pay this money to you and your spouse.
Larry Fink From Blackrock Even Came Out and Said, We’ve Done the American Public a Disservice, Because We’ve Provided Them with Products That Can Help Them Accumulate Their Money, Right, Right, Accumulate Cash Over Their Working Years, but We Have Not Built Anything for Them That Will Sustain Them in Replacing Their Paycheck and Retirement.
