When you are approaching retirement, this is a time period more than any other, for you to shift your foundational investments into vehicles that will either provide guaranteed income, or will stabilize income through mitigation of risk and taxation.

Once you have stopped working full time, the words “recovery time” for any loss of principal due to an investment downturn, takes on a totally new meaning. In 2008 I watched as countless retirees had their plans go down the drain. Many left destitute. It took over a decade for accounts to get back to where they were. Having predictable income allows you to plan ahead and spend money on fun things and gift without worry or guilt.

There are many ways to structure dependable income during retirement. One way to guarantee some of your income is through the use of annuities. The video below will give you an overview of annuities.