What Is The Safest Place For Retirement Money?

Somewhere your principal is protected.

Protection is key

Helping Retirees Find The Safest Place For Retirement Money

Truthfully, what is the “safest” retirement strategy for one client may be different than another client. Indeed, everyone has their own idea of how much risk they are willing to take. In addition, each client’s situation is unique. Therefore, each client needs their own custom recommendation. However, at Choules Financial, our overall approach looks to keep your nest egg protected. We can help you review your option and figure out which is best for you.

Our firm relies on 3 primary ideas when assisting our clients.

  1. Make it a priority to keep retirement money safe.
  2. When possible, use a strategy that helps the client obtain a reasonable rate of return.**
  3. Retirees should have a simple for retirement strategy.
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Safety and Retirement

As most people approach retirement, they begin to think about ways to protect their nest egg from loss. Stock market swings can cause retirement accounts to drop in value. Then, people may begin to wonder if their money can bounce back. Often, the additional risk associated with the stock market becomes less appealing as people age.

With this in mind, Choules Financial provides annuity and life insurance options as part of your potential retirement strategy. For example, fixed index annuities offer protection of your principal balance, regardless of market conditions. In addition, fixed index annuities also provide the possibility of an increase in your return when the market index is up. Some annuities may offer retirees a low-risk way to ensure they never run out of money.

"Protection Is Key."

Want to learn more about retirement savings options and relative risk? Attend one of our educational sessions.

safest way to save for retirement
Choules Financial Believes, Quite Simply...

The Safest Place For Your Retirement Money Is Somewhere It Is Kept Safe

As you are growing your wealth, you may decide to invest in the stock market. With time on your side, you may feel that you are able to keep your money in the market. Certainly, some people feel they can hold out and hope the market goes back up. However, the market can certainly have its ups and downs. For example, the market saw significant drops in 2008 and again in 2020. For some retirees, the uncertainty of what will happen to their hard-earned savings in a downturn market is too much to handle. Instead, they look for a safer place to put their money so they know it is there, no matter what happens in the market.

"Protection Is Key."

Are Annuities A Safe Option For Retirement?

Certain types of fixed or fixed index annuities may be a good option for some retirees. An annuity is a contract with an insurance company. So, as part of the annuity agreement, the insurance company protects your principal. Traditional savings accounts and CD’s from a bank offer a secure place for your money because the FDIC insures up to $250,000 of it. However these accounts don’t offer very much upside in terms of interest rate or return on investment. In addition, these types of accounts are typically subject to taxes on any earned interest. In contrast, fixed index annuities are generally tax-deferred. You only pay taxes when you pull money out. In addition, annuities offer options for steady income as well. Be sure to speak with us about which options may be available for you.

Ultimately, where you place your retirement savings is up to you. At Choules FInancial, we are here to help you have all the information you need to make that decision. Give us a call, or register for one of our upcoming events to learn more.

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