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The Annuity Ingredient

Over our last few posts, we’ve discussed the different elements of the SECURE Act: the changes, laws, and adjustments that are coming. Traditionally, inside your 401(k), you’ve seen mutual funds, which are useful in terms of diversifying your portfolio, but now the SECURE Act allows you to throw an annuity into the mix. While this may seem like an insignificant change, adding an annuity could be a key income ingredient in your retirement plan. 

Annuities can come in many shapes and sizes, offering some portfolio growth while side-stepping market volatility. You wouldn’t want to place all your retirement eggs into one basket, or account, only to experience a downturn only a few years out from retirement. Much like your Social Security or a pension payment, annuities have the ability to build you a guaranteed income stream.  

The most important thing here is to see if your retirement portfolio could benefit from an annuity. Annuities have been around a long time, but the truth is they are still a useful income option for millions of retirees. That doesn’t mean your retirement portfolio should only consist of annuities – in fact, it probably shouldn’t! Annuities aren’t for everyone because everyone’s retirement situation is different. But don’t overlook annuities just because they’re an older solution to an age-old problem: running out of money. 

Should annuities become a key ingredient to your retirement? The answer will depend on you and your retirement goals and dreams.  At the very least, annuities are worth investigating and considering for your portfolio. If you’d like to learn if an annuity could be an ingredient to your retirement, call Hoffman Financial Group at 770.709.5959 for a meeting today! We’d love to talk with you, discuss your retirement goals and, current portfolio needs, and look for possible solutions.  

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