Regardless of our own personal level of income, at some point, we will all eventually retire. Considering that most of us work to provide for ourselves and our families, let's take a look at the average sources of income of retired persons:
Most people fit into the first two income tiers. This is deeply concerning as the Social Security Trustees project that Social Security will face challenges in providing full benefits to American's in 2033. For those lucky enough to be in the top two tiers, pensions in both the public and private sector are deeply underfunded and many companies have either declared bankruptcy or eliminated their plans. If you fall into the bottom two tiers, this could mean that 89% - 93% of your retirement income without savings and planning is not guaranteed.
With traditional sources of retirement income not completely reliable, the best and most secure way to build a financial safety net is to build up a diversified portfolio of assets. At Erickson Insurance and Financial Services, we not only offer some of the best performing annuities in the industry, but we have the experience to point you in a financially safer direction that will improve your standard of living at retirement.