December 28, 2022
Retirement /rəˈtī(ə)rmənt/ noun. “The action or act of leaving one’s job and ceasing to work.”, otherwise known as a brand-new stage with freedom to rediscover yourself and what brings you joy and happiness.
Retirement in today’s world doesn’t look the same as it once did. Most people are working longer before retiring due to a necessity to assure they can continue to live and do the things they have been doing once they retire. Not only that, but life expectancy has also increased. According to an AARP article by Andrew Scott, Professor of Economics at London Business School1, a 65-year-old today can expect to live an additional ten more years. This means, that “every ten more years of life implies seven more years of working.”1 In fact, statistics show that over the last twenty years, the U.S. employment “has risen by 22 million and 19 million of those jobs are accounted for by an increase in working amongst those aged over 50.”1 The prediction from the Bureau of Labor Statistics predicts that by “2028, one in three people aged 65 to 74 and one in eight aged over 75 will still be working.”1
Regardless whether your plan includes an extension of your work career or not, it’s important to map out a plan for what comes next. WHAT you want to do in retirement is equally as important as getting your financial house in order.
Maybe it’s a little bit of everything – And that’s the best part, there are no rules! Up until retirement, you’ve spent your life living in certain roles and often those roles define how you see yourself. This can make it hard to find your new identity. Retirement coach and co-author of The Couple’s Retirement Puzzle: 10 Must-Have Conversations for Creating an Amazing New Life Together suggests that those retirees that transition into retirement with most success, go into it thinking about what they are retiring to instead of what they are retiring from.2
Exploration is a big part of retirement, and nothing should hold you back from it. It’s a long-awaited opportunity to do all the things you’ve been dreaming of. Once you have your vision laid out, it’s time to assure your financial plan is enough to make it happen. Have you saved adequately? Will the financial plans you have in place get you through retirement?
If the future has you giddy with all the possibilities of what you might be retiring to, you may want to consider adding a KSKJ Life 5-Year Window Annuity to your financial portfolio. This “try me” annuity is a 5-year tax-deferred contract with a one-year option that allows you to withdraw the accumulated funds after the first year without penalty. Or, if you’d like to continue to add to your retirement income and watch your money grow, you do have other options such as:
-Continue the contract for the remaining 4 years at the assigned renewal rate.
-Open a new contract for another 1-year fixed interest rate.
-Deposit it into another KSKJ Life deferred annuity.
The 5-Year Window Annuity lets YOU decide! Connect with us today to learn more and take advantage of our elevated rate for a limited time.
1 AARP International September 2021: https://www.aarpinternational.org/initiatives/future-of-work/future-of-work-five-megatrends- pov/2021/09/future-of-work-andrew-scott 2 Athene.com https://www.athene.com/smart-strategies/lifestyle/4-habits-of-happy-retirees.html
The KSKJ Life Window Annuity is a 5-year single deposit deferred contract with a guaranteed interest rate for one (1) year. After the first year, the owner may withdraw up to 10% of the accumulated value each contract year, while surrender charges may apply for annual withdrawals beyond this amount for years one through five. Deposit limits exist. Rates are subject to change and reviewed frequently. Not FDIC insured. Not available in all states. Early withdrawals and those made prior to age 59 1/2, may be subject to IRS penalty. We are not financial planners or tax advisors – please contact a tax professional.
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