Keep these things in mind as you and your advisor create a retirement strategy.
Don’t underestimate your life span. You may spend 20 to 40 years in retirement. Look for an investment providing longevity insurance1
HEALTH CARE EXPENSES
GUARD AGAINST INFLATION
Look for investments designed to potentially grow faster than the rate of inflation.
Even modest inflation—say 3% a year—undercuts your purchasing power. You might go into retirement thinking $2,000 a month is enough to live on comfortably. But after 20 years—with inflation averaging 3% a year—you’d need $3,612 a month just to maintain your standard of living. That's where wise investing can help.
DIVERSIFICATION CAN HELP REDUCE MARKET RISK
When you invest in securities, there’s always the risk that the stock or bond market will decline and your securities will lose value.
Each investment responds differently to economic and market influences, so divide your money among different types of investments to help avoid across-the-board losses. Diversification won’t, however, assure a profit or prevent a loss.
RISK VERSUS REWARD
There are risks and rewards with any type of investment. The trade-off is simple. The greater the market risk, the greater the potential reward or return.
Choose an approach to investing that suits your goals and risk tolerance
- The level of risk you’re comfortable with depends on a variety of factors including your:
Perception of market conditions
Concern about inflation eroding your purchasing power
Need for immediate funds to meet financial obligations
- An important factor affecting risk is the number of years you hold your investment. Market ups and downs tend to even out over time, so holding your investment for the long term—say more than 10 years—might reduce your risk.
- Too much emphasis on conservative investments could expose you to greater risk of outliving your assets.
- Be sure to reevaluate your plan objectives with your advisor periodically.
WATCH THINGS CLOSELY
Keep an eye on your portfolio. Ask your agent or advisor:
- What you should look for and how frequently.
- How often you should meet to review things and adjust your investment mix.
Talk to an advisor about how Symetra annuities can fit into your retirement planning.
Annuities are issued by Symetra Life Insurance Company, 777 108th Avenue NE, Suite 1200, Bellevue, WA 98004 and are not available in all U. S. states or any U.S. territory.
1 Longevity insurance is a concept, not the name of a product. Some states define longevity insurance as an annuity with payout option only with no death benefit.