Retirement Income Strategies Retirement income plans may seem like too much to think about, something only wealthy people have the time and luxury to concern themselves with. But in recent years, they’ve become increasingly important for people of all incomes to consider, and best practices have been changing. As retirement nears, the traditional strategy has been to move growth-seeking products to more conservative, fixed-income products. This worked fine, back when retirement was only expected to last five to ten years.These days, however, the advancement of modern medical technology and pharmacology continues to extend the human lifespan, and it’s not unusual for someone retiring at age 65 to live to age 90 or longer. As a result, you may need to plan for your nest egg to potentially last 25 to 30 years.When looking forward to a longer life expectancy, you need to consider the increased possibility of outliving your savings—and one way to combat and prepare for that possibility is to develop a retirement income plan designed to last a longer lifetime.A significant blow to your finances in the years just prior to or just after your retirement can have a severe impact on your lifetime earnings. If such a blow occurs earlier in life, it’s easier to recoup your losses and rebuild your financial position than if this loss occurs during your retirement. This is simply because later, as your retirement goes on, you have a smaller pool of capital to draw from and reinvest. That’s why it’s so important to build a strong growth-oriented retirement income plan that continues to provide breathing room for such situations.We can help you design a guaranteed* retirement income strategy which incorporates insurance and annuity vehicles to create opportunities for long-term growth as well as guarantee income throughout your retirement. *Guarantees are backed by the financial strength and claims-paying ability of the issuing company, and may be subject to restrictions, limitations or early withdrawal fees. Annuities are not FDIC insured.