Five simple steps to get your retirement planning off the ground.
1. TAKE INVENTORY
- What are your essential expenses (food, housing, utilities, medical costs, etc.)?
- About how much will it cost to do what you want in retirement (travel, golf, classes)?
- Where’s your retirement income coming from?
Pension. Do you have a pension?
Social security. How much Social Security will you collect? Visit our Social Security Retirement Income Estimator.
Full- or Part-time Work. Will you work or consult part-time?
- How much have you saved for retirement?
- Are you saving enough?
Use our Retirement Calculator to estimate the hypothetical amount of retirement savings you might accumulate to determine if you’ll have enough to last through your retirement.
Paycheck Tax Savings Planner
Get an idea of the potential tax savings you might achieve through your own savings. Use our Paycheck Tax Savings Planner to see how different contribution amounts affect your paycheck.
This lays the foundation for your retirement income plan. Talk to your advisor about what you’ve discovered.
2. COVER THE ESSENTIALS
Do your guaranteed sources of retirement income cover your essential expenses?
If there’s a gap, talk to your advisor about using income annuities
to cover daily expenses now and in the future.
Do you already have an annuity? If it’s a deferred annuity
, ask your advisor about converting it into a guaranteed income stream.
3. DON'T FORGET THE NON-ESSENTIALS
Will you have enough to cover travel, golf, classes or whatever else you’ve looked forward to doing in retirement? If you’re short, ask your advisor how a variable annuity
4. PROTECT YOUR RETIREMENT INCOME
5. PROTECT YOUR FAMILY
Is your family protected if something happens to you? Purchasing just part of what you’ve saved in single premium life insurance
immediately increases the value of your estate, plus your beneficiaries will potentially receive the death benefit
free of federal income tax.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company