Comments on: Digging Your Retirement Money out of the Hole http://www.theretirementpros.com/blog/2009/03/digging-your-retirement-money-out-of-the-hole/ Retirement Planning Blog Topics: Social Security, Investments, Safe Money advisory, Retirement Video Seminars Fri, 23 Dec 2011 05:50:30 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: DrShelby http://www.theretirementpros.com/blog/2009/03/digging-your-retirement-money-out-of-the-hole/comment-page-1/#comment-424 DrShelby Mon, 06 Apr 2009 18:37:05 +0000 http://www.theretirementpros.com/blog/?p=152#comment-424 I think the Guaranteed Lifetime Income Rider is a great way to "lock in" a minimum income or to combine with Social Security benefits to make sure you don't outlive you money BUT you have to be careful about the underlying product. For example, you’ve got to make sure you’ve got some latitude in case your circumstances change or you need the money lump sum. If you put your money in a Variable Annuity, you’ll get the GLI rider but if you change your mind you’re exposed to the market…so make sure you can live with the worse case outcome (and people now know that is 50% loss or more). On the other hand, if you choose a fixed annuity with the Guaranteed Lifetime Income Rider you will avoid market losses and retain options if your circumstances change. Hope this helps. By the way, you can get the Guaranteed Lifetime Income feature only on insurance products. I think the Guaranteed Lifetime Income Rider is a great way to “lock in” a minimum income or to combine with Social Security benefits to make sure you don’t outlive you money BUT you have to be careful about the underlying product. For example, you’ve got to make sure you’ve got some latitude in case your circumstances change or you need the money lump sum. If you put your money in a Variable Annuity, you’ll get the GLI rider but if you change your mind you’re exposed to the market…so make sure you can live with the worse case outcome (and people now know that is 50% loss or more).

On the other hand, if you choose a fixed annuity with the Guaranteed Lifetime Income Rider you will avoid market losses and retain options if your circumstances change. Hope this helps. By the way, you can get the Guaranteed Lifetime Income feature only on insurance products.

]]> By: Brad Redfield http://www.theretirementpros.com/blog/2009/03/digging-your-retirement-money-out-of-the-hole/comment-page-1/#comment-423 Brad Redfield Mon, 06 Apr 2009 04:24:21 +0000 http://www.theretirementpros.com/blog/?p=152#comment-423 Like many who have seen their IRA down (<40%) - I am 55 and within 10 years of retirement. I am ready to move a portion of my remaining IRA (that is equity dominant)into a Guaranteed Minimum Life Income Rider with spousal continuance - for a future income stream. Would greatly appreciate opinion on this strategy. Like many who have seen their IRA down (<40%) – I am 55 and within 10 years of retirement. I am ready to move a portion of my remaining IRA (that is equity dominant)into a Guaranteed Minimum Life Income Rider with spousal continuance – for a future income stream. Would greatly appreciate opinion on this strategy.

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