Planning for retirement can feel scary, but it doesn't have to be! This news explains ways to make your savings last and give you a steady income after you stop working. It's all about smart planning and choosing the right investments.
- Turn your retirement savings into a regular paycheck using different strategies.
- Use some of your savings to buy an annuity, which is like a guaranteed pension from an insurance company.
- Invest in bonds to get regular interest payments.
- Invest in stocks of companies that pay regular dividends (like sharing their profits).
| Investment | Example Income (Annual) | Example Lump Sum (Age 65) |
|---|---|---|
| Annuity (SPIA) | $48,000 | $630,000 |
| Fixed Indexed Annuity (FIA, age 60, income at 65) | $48,000 | $450,000 |
| Bonds | ~4% of investment | Varies |
| Dividend Aristocrats (Stocks) | Varies (growing over time) | Varies |
