You should be worried! After all your retirement income is what sustains for your entire retirement which could be 30 years or more! If you take steps now you can make sure you never run out of income.
If you are worried about your retirement income you should look into adding a few guarantees to your portfolio. Imagine a guarantee that pays you income for life and allows you access to your principal. It used to be either or but now it is either and! Does that make sense?
What we are talking about is adding a safety net to your investments. A safety net that says you will never run out of income even if your investments go to zero. If the market does poorly or if it is even flat you could be in trouble during retirement.
A few flat years and you are withdrawing from your principal just to survive. Each withdrawal makes it harder and harder to catch up. With a guarantee those worrisome down years could be eliminated completely.
What do you really need from your investments during retirement? You need income right? A lump sum helps as you can take income from it but income is your real need.
A guaranteed income stream is essential to a successful retirement. It can act as a safety net and also allow you to invest more aggressively with the rest of your retirement money with no worries about losing your retirement income generating assets.
To learn more about how to create guaranteed income for your retirement read the new article on guaranteed income riders - Guaranteed Income Without Losing Access To Principal?
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