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Lampson Retirement Solutions helps their clients create their own "personal pension", guaranteed income stream for their retirement

Safe Money Advisor, Tracie Lampson shares the difference between pensions and annuities

HOUSTON — Needing guaranteed income after the "mailbox" money stops? Since social security was designed to only replace about a 1/3 of our income and fewer and fewer companies offer pensions any longer, so the burden of creating income streams falls on us.  With all the uncertainty in the market and world today; inflation, a possible recession and no end in sight, we have seen a higher demand for a guaranteed paycheck for life programs. 

Those within 5 years of retirement who are dependent on their 401ks and savings to fund a portion of their retirement, they need to consider their backup plan if their account balances went down 30-40% due to a market crash, how would they make up the gap when they probably need to start pulling from those accounts as soon as they retire --- which would not allow them the time needed to recover market loss. 

The average time it takes to recover from bear markets (20% or more drop) is 5 years.  This is why the closer you get to retirement, the less likely your portfolio can afford to be primarily at risk, where the principal is not protected. 

Lampson Retirement Solutions helps their clients create their own "personal pension", guaranteed income stream for their retirement.  Depending on their age, determines the vehicle we use.  Those under 50, Lampson's goal is to create guaranteed "tax free" income in retirement and those over 50, since we have less time for our paycheck to "grow", we want to use a fixed index annuity with an income rider that will provide the highest guaranteed paycheck available for their specific age/timeline.  These products offer us the peace of mind in knowing that once we "turn" on our paycheck --- that it's for life, whether my account runs to zero or not.  With us living longer, that is all the more reason that we need to make sure we have enough guaranteed income to pay the bills we have to pay to make it through life.  These products basically give my clients (and myself, as this is our retirement plan) a license to spend, basically.  

Normally, if our money is in the market, people tend to be more frugal in their spending because they don't know how long their money is going to have to last them.  By taking a specific amount of money, we can create a guaranteed income stream that they can never outlive and therefore that "frees" up other assets in their portfolio that they were hesitant to spend before having more money coming in than they need.

Lampson Retirement Solutions has a special offer for Great Day viewers...The first 30 people to contact them and mention "Great Day Houston" will receive a complimentary financial analysis, a $199 value for free.  A blueprint of your current financial situation, and how to align your investment strategies with your retirement goals.

To see how Tracie can help protect your money, call her office at (281) 348-0866 or visit their website lampsonretirementsolutions.com for more details. 

This content sponsored by Lampson Retirement Solutions

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