Safety First

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What is The Safest Place For Retirement Money?

Protection is key: The safest place for retirement money is somewhere where your principal is protected.

Truthfully, the “safest” retirement strategy is somewhat different for every client. Everyone has their own retirement goals, needs, financial situation, and risk tolerance. Each client needs their own custom recommendation. That being said, generally, clients look for safety of principal in their strategy. At Creations Financial, safety is one of our core principles when helping you devise a retirement strategy.

Our 3 core ideals when helping clients are:

The Best Place For Your Retirement Money is Somewhere It's Kept Safe

As you grow your wealth, you may decide to invest in the stock market. You might be comfortable with this because you have time on your side. Certainly, some people feel they can hold out until the market goes back up. However, as you get older, your risk tolerance will likely change. Many retirees are uncomfortable at the idea of what will happen to their hard-earned savings in the event of another stock market crash. Instead, they look for a safer place for their retirement money.


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Are Annuities a Safe Retirement Option?

Certain annuity products such as fixed indexed annuities could be a good option for some retirees. An annuity is a contract with an insurance company. As part of the agreement, the company protects your principal. Traditional savings accounts, such as CDs, also offer a secure place for your money. However, these accounts have a contribution limit, and don’t offer very much in terms of interest rate. Additionally, these types of accounts are subject to taxes on any earned interest. Fixed indexed annuities, on the other hand, are usually tax-deferred.  You only pay taxes when you take the money out. Furthermore, annuities offer options for steady income as well.

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