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Asset Allocation

Often financial "experts" make asset allocation difficult to understand. My goal in this series of articles is for you to understand asset allocation thoroughly, in an easy to understand format.
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How to Get A Guaranteed "Lotto Ticket" For Life!

You go into your local grocery store and plop down two bucks for a lotto ticket. That Saturday you hit the big one! You make your way down to the lotto office and work out guaranteed payments for life.

Imagine being able to do this without relying on luck. How much would you have for retirement? And what if you could pass on these guaranteed payments to your loved ones?

The Checks That Keep On Coming

You've heard of the Roth IRA's and 401K's. But you may not have heard of the Variable Annuity. These are contracts between you and your insurance company. They promise to periodic paychecks for the rest of your life. The payments start coming in at an agreed time. Most annuities start much later in life. The average age for annuity payments to start is 75 years old.

"Wait a minute! I want to enjoy my greenbacks, right now!"
Hold on there money bags. That's not what this life time lotto ticket is all about. You have to ask yourself the most important question when it comes to retirement. Will you outlive your retirement income? A Variable Annuity guarantees that long after you retire, you'll have plenty of money coming in.

Let's say you decide to work till your 65. More and more seniors are doing just that. During that time you set up a Variable Annuity and emergency plan. But you get hurt on the job at age 63 and can't work again. After you go through your emergency money, the annuity payments kick in soon after the emergency funds are gone. Think of what could happen if you don't have Variable Annuity set up for later in life.

I believe I'll be healthy and wealthy during my golden years. But if I'm wrong, you can bet my annuity plan will cover my assets!

Seven Powerful Benefits Of a Variable Annuity

Benefit #1: Payments for Life
When you stop working maybe you'll get your pension check and maybe you won't. You won't have to think about this with a Variable Annuity. Whether it's once a week or once a month, you'll get a "lotto payment" in your mailbox. This will cover your living expenses, beyond the day you pass on.

Benefit #2: Grow your Money
Annuities use mutual funds and other investments. They grow each day fattening your future "lotto payments." What separates them from a 401k and Roth IRA is that they grow over a longer period of time. You can put 20% towards mutual funds, 40% towards stocks and another 40% toward an ETF. Even if your portfolio grows at a moderate rate, you'll have plenty of money long after your working years are over.

Benefit #3: No Taxes
Its tax-deferred status means you pay no taxes as long as you don't withdraw funds. This should be easy considering the purpose of the annuity is to provide you with payments for life.

Benefit #4: Protect your Family
Life happens and death follows. You can designate a beneficiary for your annuity. If you pass even before the payments start, your loved ones are covered.

Benefit #5: Payment Options
To set up the annuity you pay a lump sum or a series of payments. This gives you control over when and how your payments start rolling in.

Benefit #6: Get Paid Now or Later
You can choose to have your payments start now or at a later date. Keep in mind the best use of a Variable Annuity, is for your late, late years.

Benefit #7: Knowledgeable Help
From Vanguard to Met Life, insurance companies have experts dealing with Variable Annuities. Check their websites for specific plans, fees and other charges. Don't hesitate to ask these specialists all the questions you need before setting up a Variable Annuity.

We're in a recession folks. More than ever it's time to get smart and prepared with our retirement. You're working hard and will continue to do so. Get your retirement "lotto ticket" and get paid for life!

Clyde McDade is a Financial Copywriter. He can be reached at accelcs@comcast.net.

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