When will I be Eligible for my pension benefit?
How much total income will I have in retirement?
How does Social Security work?
What is my Tax Liability in Retirement??
How can I make sure I have enough in retirement?

Retirement income planning ensures that you have enough money to maintain your lifestyle after you stop working. It helps you prepare for future expenses, protects against market volatility, and reduces the risk of outliving your savings.
The earlier, the better! Ideally, you should start planning and saving for retirement as soon as possible, even in your 20s or 30s. The earlier you begin, the more time your investments have to grow, especially with the power of compound interest.
Diversifying your investments across different asset classes and including safer, more stable options like bonds or annuities can reduce the impact of market declines. A portion of your portfolio may also be allocated to defensive stocks, real estate, or cash-equivalents to provide stability.
The amount you need depends on your desired lifestyle, expected expenses, and other factors like health care costs. A general rule of thumb is to save at least 10 - 15% of your income for retirement. Working with a financial planner can help you estimate your specific needs.
No market risk products are financial instruments designed to protect your principal investment from market downturns. These products offer steady growth opportunities without exposing your savings to the volatility of the stock market. Examples include fixed indexed annuities (FIAs) and certain types of whole life insurance policies.
Many no market risk products, like FIAs with lifetime income riders or whole life insurance with cash value growth, are designed to provide income that lasts as long as you do, ensuring financial stability throughout retirement.
A Traditional IRA offers tax-deferred growth, meaning you pay taxes when you withdraw the money in retirement. A Roth IRA, on the other hand, allows your investments to grow tax-free, and qualified withdrawals in retirement are also tax-free. Both accounts have different tax advantages depending on your current tax situation and expected tax rates in retirement.

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