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Many people want guaranteed money coming in during retirement, like a regular paycheck. But when given the chance to set this up through something called an annuity, most people say no. They worry they'll miss out on better opportunities if their money is locked up.

The Solution

We've found a way to give people both guaranteed money AND the chance to grow their savings. Here's how it works:

First Step: Protected Income

You take some of your retirement savings and buy an insurance product that promises to pay you a certain amount every month for the rest of your life. This covers your basic needs like food, housing, and utilities.

Second Step: Growth Money

Since your basic needs are covered, you can invest your remaining money in ways that could grow more over time. You don't have to worry as much about losing this money because your basic needs are already taken care of.

Third Step: Protection Against Health Costs

We add insurance that helps pay for long-term health care if you need it. This protects your regular retirement income from being eaten up by medical bills.

Fourth Step: Smart Tax Planning

We use special rules in the tax code to help you pay less in taxes. This includes careful planning about when and how to take money from different retirement accounts.

Fifth Step: Using Your House

If you own your home, we can use special loans that don't have to be paid back while you're alive to help set up this plan. This doesn't add debt you have to pay monthly.

Why This Works Better

This plan solves several problems:

You get guaranteed money every month
You can still grow your remaining savings
You're protected if you get sick and need care
You pay less in taxes
You don't have to sell your house
You might have more to leave to your family

This system gives you security AND the chance to grow your money. It's not about choosing between safety and growth - you get both.

The key is having different types of accounts and insurance working together:

Some money that's guaranteed
Some money that can grow
Protection against health costs
Tax-smart planning
House value used wisely

This way of planning helps you feel more confident about retirement because you know your basic needs are covered, but you also have money that can grow over time.

The Bottom Line

Instead of choosing between guaranteed income OR growth potential, this plan gives you both. It protects your basic needs while still giving your money room to grow. This means you can worry less about running out of money in retirement and focus more on enjoying your retirement years.