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How can you guarantee your retirement income in a world full of risk?

Jul 28, 2022 9:27:24 AM The MacMillan Estate Planning Team

Your retirement nest egg is vulnerable to many risks, such as:

  • Inflation may hinder your purchasing power over time
  • Market volatility may reduce the value of your investments
  • Tax increases may further decrease your annual income
  • Cognitive issues later in life could make it harder to manage income withdrawals
  • Living longer than expected could mean you outlive some of your key income sources

Annuities, a type of retirement protection investment tool, can help counteract those risks by providing you with the following:

Predictable payments An annuity pays fixed guaranteed income payments for a predetermined period, which could be as little as 12 months, your entire life or until the death of your spouse or other-named beneficiary. 
Tax-deferred growth Tax-deferred means you do not pay taxes until you make a withdrawal. Also, you will pay taxes only on the amount you withdraw. The remaining amount will continue to grow on a tax-deferred basis. Since an annuity allows investment gains to accumulate tax free, it can grow at a faster rate than a taxable product.
Death benefits In case of a death-benefit provision, you can name a beneficiary. The named beneficiary, either person or entity will receive the remaining fixed annuity after your death.

MacMillan Estate Planning’s approach to asset and investment protection planning centers around providing you with a low risk, reliable source of income that is safeguarded for you and your family. With annuity rates at an all time high, we recommend all families closely consider the risk busting benefits of an annuity.

We currently have an annuity in our offerings that provides over 5% return for an 18-month period, which is a great short term investment option to help weather the uncertainty over the coming months.  

Should you have any further questions about annuities or would like to see if an annuity arrangement could benefit your estate, please call us on 1-833-266-6464 or email us on inquiry@macmillanestate.com to book a complimentary appointment.

At MacMillan Estate Planning, our team of professional trust and estate practitioners, chartered accountants, financial planners, and legal professionals look forward to assisting you with the design of your estate plan and will ensure you build, protect, and enjoy your wealth. The information provided is general and may not be suited to your objectives or sufficient to ensure the protection of you and your family. You should not act on this information without providing MacMillan Estate Planning with the opportunity to ensure that it is suitable for your unique situation.

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