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About Retirement Calculator, Inc.

CBS The Early Show

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Guarantee Life Time Income

To Guarantee Lifetime Income: It Can Be More than Just a Dream

Wouldn't it be great if you were able to guarantee lifetime income? After all, if you could guarantee lifetime income, you wouldn't have to worry about covering the costs of healthcare which have always increased as time goes on. You wouldn't have to worry about the possibility of not being able to afford to keep your home, nor would you need to be concerned about the risk of not having the money to travel, to enjoy your life on your terms, not would you find yourself unable to help with the things that you want to be there for like helping to contribute to your grandchildren's college tuition.

If you could guarantee lifetime income, you would be able to leave no questions unanswered, no risks of dreams being left unrealized. Unfortunately, knowing that you can guarantee lifetime income isn't a luxury that everyone is simply born with. Not only are most of us left saving so that we are able to prepare for unforeseen situations in the short term, we're also left having to plan carefully for the futures that we hope to have - and that has a tendency to bring with it more questions than answers, at least at first.

When it comes to making a plan to have some sort of a guarantee of lifetime income, these are just a few of the questions that many people have:

1. How can I be sure that the savings accounts that I choose will accrue the best possible interest rate?
   
2. What control can I take over my investments to maximize my income while minimizing risks?
   
3. Is there a stock, mutual fund or other investment that I could make that would change the outlook of my entire portfolio?
   
4. If I need to borrow against my savings to cover a cost in the short term, will I still have the income that I need once I've retired?
   
5. Is it possible to work with my savings and investment plans to ensure that I can expect to have a regular income after I'm no longer working?

Asking these questions is relatively simple; it's answering them that is a bit more challenging. Fortunately, when it comes to questions about having a guarantee of lifetime income, there are two things that you can do to to find answers. The first is to use our free retirement calculator to take a closer look at your savings and investments to see how they have performed, how they are performing and how they are projected to perform in the future; the second is something that follows in a natural progression - to talk with a financial advisor to get answers to those questions and those that come up while you're looking at your finances.

With our retirement calculator, you'll be able to get a feel for whether or not you will have a guarantee of lifetime income that you want to have available and even be able to test out a few alternatives that you're considering. More importantly, however, when a financial advisor calls you soon after you've started working with the retirement calculator, you'll be able to ask the questions that you have about savings and investments in general and about your portfolio specifically. You will also have the opportunity to talk about what steps you should be taking to ensure that you have the guaranteed lifetime income that will allow you to achieve all of the goals that you have for your retirement.

Why settle for having questions about your lifetime income when you can have the answers that you need instead? By using our retirement calculator and talking with a financial advisor, you'll be able to be sure that you have all of the information you need to make the right decisions for your future.

Find a Qualified Financial Planner in Your Area

Do You Know the Answers to These Important Retirement Questions?

• Are you retired or thinking about retiring?
• Do you have enough money to comfortably live throughout your retirement years?
• Would you like FREE face to face advice or retirement consulting from a trusted local financial advisor?
• Are you looking for help to achieve your long-term financial goals?
• Would you like to learn more about Annuities, 401's, Life Insurance and Long Term Care?

Would you like to retire, but aren't sure you can?

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Everyone who has thought about retirement has asked themselves these and other questions. Now you can get ALL the answers in Retire in a Weekend! This short, simple, humorous, easy-to-understand book answers the 10 most popular questions and addresses the 5 biggest concerns people have about retiring! So stop asking yourself IF you can retire ... with Retire in a Weekend! you'll learn HOW to actually do it.

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Analysis of the Economics of Early Social Security Withdrawal

Robert J. Phillips
Chief Retirement Consultant

Deciding whether or not to take the early withdrawal of social security at age 62 can be difficult. If you need this income at 62 to fund your retirement the decision is fairly straightforward. Take it early! On the other hand, if you have another source of revenue to fund your retirement your decision will be primarily based on lifestyle, health and investment preferences.

Several factors can affect your decision. First is your life expectancy. If you are in good health and have a family history of living beyond 90 then waiting for full benefits may be best. Two other factors impact this decision. First and most important is the value of money or your expected return from your investments. If you are using other investments instead of social security to fund your retirement you should use the rate of return of these investments as your value of money. There is another way to look at the value of money. If you do not require the social security money to live, you can invest the distributions for the future. The rate of return of this investment is your value of money. If your investments will make larger returns such as stocks this would favor taking the early withdrawal.

The last factor impacting your decision is inflation. Social security includes an annual adjustment based on inflation. You cannot control this variable but you should be aware of its impact. If future inflation is significant it will favor a later full distribution

FREE Social Security Calculator:

We developed a calculator to assist in analyzing the impact of taking early benefits at age 62 or waiting for full benefits at age 66 to 67 depending on the year you were born...If you were born in 1960 or later your full benefits will begin at age 67 and your reduction for early benefits at age 62 will be 30%. If you were born between 1946 and 1960 your full benefits begin as early as age 66. We have included a chart that summarizes information.

To use the calculator you need to input your year of birth. You also need to input a value of money up to 10% and a projected inflation adjustment. The calculator analyzes income generated over time from both the early and full benefit investments. It calculates the age at which full social security will catch up and breakeven with the early withdrawal. If you were born before 1960 your breakeven age will be impacted by the year you were born. An early breakeven age favors waiting for full benefits.

The social security calculator is not the final answer whether to take an early withdrawal but it does give you additional economic data to assist in that decision. Ultimately you must balance income, investments and lifestyle to optimize your enjoyment during your retirement years.