By Jim Poolman, Executive Director, Indexed Annuity Leadership Council
60 Minutes recently re-aired a story about 401(k)s and the fact that so many nearing retirement age are actually are putting off their retirement because their 401(k) investments have faltered due to market volatility. To read the full story on CBS click here or you can view the excerpt below.
In response to this segment, an article in Inside Tucson Business outlines some alternatives to 401(k) investments including self-directed IRAs and Fixed Indexed Annuities. Susan Moore Vault reports:
“The FIA has no rival in its combined ability to ensure safety, offer opportunity for growth that is automatically captured annually, and give income that adjusts for inflation and lasts a lifetime. It surpasses variable annuities, target-dated mutual funds, laddered bonds and dividend-paying stocks. And, most have no fees except an income rider fee of less than 1 percent designed to guarantee lifetime income. A 401(k) cannot guarantee a lifetime income.”
Have you had to think about altering your retirement plans because of the market crash?