2024 Modern Guide For Income In Golden Years

Thinking about your late-life income? Here’s some savvy advice just for you, and although these are only tip-of-the-iceberg highlights, once you run through the brief summaries below there’s a wealth of information you and I can discuss that can be tailored to your specific preferences:
1. Diversify Like a Pro: Consider an income “ladder” for flexibility—it’s a strategic move. Don’t put all your eggs in one basket! Opt for a diverse investment portfolio. If you’re unsure, have a chat with me or with your financial planner who can guide you through the options.
2. Unlock Your Home’s Value: If you’re sitting on a property goldmine but need cash flow, explore two options… a cash-out home equity line of credit (but be sure to compare interest rates wisely) or a reverse mortgage, tapping into your home equity for ongoing monthly payments or a lump sum. Just keep tabs on taxes and insurance, and shop around for the best deals.
3. Insurance Insights: If you haven’t jumped on the long-term care (LTC) insurance train, now’s the time. Especially if you’re cruising around in your 60s. Explore hybrid policies with me that blend life insurance with LTC—providing a safety net for both you and your heirs. Be aware, though, hybrids might be pricier than the classics.
4. Plan for Longevity: Worried about outliving your savings? Consider Longevity Insurance with deferred-income annuities. These gems guarantee a lifetime income if you hit a certain age, typically around 80 or 85. And, of course, there’s the timeless Social Security card—maximize your late-in-life income by delaying benefits until the ripe age of 70.

Feel free to call me, Harrison Lance, so we can discuss this further: (678) 978-5453 https://www.harrisonlance.com/

or email me: [email protected]