Why is Income Protection so crucial to a retirement plan? As I mentioned it my original blog back on March 31, 2020, “Why Income Protection Is Crucial During Times of Market Volatility”, we cannot afford during times of market volatility for the stock market alone to tell us we must wait longer to retire, possibly not retiring at all, or that we must return to work out of retirement.
Relying on the stock market on its own can leave us with a big “IF” when it comes to our retirement. “IF” the market performs well, I will be able to retire as planned. “IF” the stock market is stable, my retirement plans should be in good order. “IF” my market portfolio does not experience much volatility during my retirement, I should not have to come out of retirement and return to work.
Each of those are important “IFs". Too important to leave to the stock market alone.
Not only can Income Protection assist us in addressing the concerns of market volatility when it comes to our retirement. Income Protection can also insure we have retirement income for the rest of our lives. Throughout our retirement. No matter what the stock market may or may not do.
The big question is, “How do I go about implementing Income Protection as part of my retirement?”
It begins with looking at your overall retirement plan to see exactly where Income Protection is applicable. Evaluating each of the retirement accounts you already have in place. Would Income Protection be beneficial to those accounts? Analyzing if additional retirement accounts with Income Protection would assist with your overall retirement concerns.
"IF" any of these "IFs" have crossed your mind or remind you of a close friend or family member facing these situations, please give us a call at 303-996-9898. We'd be happy to explore the potential that Income Protection has to make an impact.