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As you go through the many stages of your life, your ability to set money aside will fluctuate. This fluctuation must be factored into your long-term accumulation strategy.
Today many people are retiring earlier and living longer than previous generations. A successful plan not only includes strategies for asset accumulation, but also strategies designed for the long-term distribution of assets helping ensure you don't outlive your money. But in life, there are other financial factors that must also be considered. For instance:
Lance Drucker and Gideon Drucker Drucker
Wealth Management, a strategic partner of Empire Wealth Strategies, understands diversifying your investments can help protect you against the unexpected, while also enabling you to achieve long-term objectives. Lance Drucker, President & CEO, and Gideon Drucker, Wealth Builder Division Director, discuss how a financial professional can work with you to develop and implement a long-term strategy to meet your specific goals.
Penn Mutual now refers to its insurance professionals as "financial professionals" in place of "adviser."
You need an effective plan for setting money aside for the future-one that will allow you to maintain your current lifestyle and is also consistent with your investment goals, risk tolerance and the amount of time you have to save.
Saving early and diversifying your assets across a variety of investment classes can help protect against market ups and downs. Investment funds can be allocated to a number of accumulation vehicles, including:
Provides a guaranteed safety net that can protect your family's well-being and overall way of life. Plus some permanent life insurance policies build policy cash value, making it an excellent fit for the conservative portion of your overall financial plan.
Variable annuities offer a wide array of investment options that allow you to customize your investment strategy to meet your needs and risk tolerance. Variable annuities also provide protection options to safeguard against inflation and market volatility. A variable annuity is a long-term financial retirement vehicle that offers the greatest growth potential but is subject to market fluctuations and may lose value.
Fixed Annuities are a simple, low-risk retirement planning vehicle that helps you protect your principal and allows your investment to grow over time. Your retirement savings are credited with interest at a rate guaranteed never to fall below a stated rate. Your annuity can receive credited interest until you decide to receive a stream of payments.
*All Guarantees are based on the claim paying ability of the issuer. Life Insurance policies are subject to eligibility requirements and restrictions and may not be right for everyone. Investors should consider the investment objectives, risks, charges, and expenses of a variable insurance product carefully before investing. Please carefully read the prospectuses for the relevant variable insurance product and its underlying investment options, which contain this and other information about the product. Diversification does not guarantee a profit or eliminate the risk of a loss.