This post is sponsored by the Alliance for Lifetime Income.
The Rolling Stones are rocking and rolling across the country as part of their 2021 No Filter tour, proving that life is not about age, it’s about attitude. As the sole official sponsor of the tour, the Alliance for Lifetime Income is along for the ride to show millions of fans across the U.S. how protected income can give you the freedom to live the life you want!
Like the Stones, you’re probably living the next chapter in life with excitement and newfound energy as we come out of the pandemic. Maybe that means getting back to your bucket list and embracing adventures like climbing a mountain halfway across the world or relishing the simple things we once took for granted, like backyard camping with the grandkids.
Take Susan, for example. As a registered nurse from North Carolina who is approaching retirement age, planning today means freedom for spontaneity later.
“I want to be able to get a call from a friend and say, ‘let’s go somewhere!’ or just pick up and do the things that were put on the back burner. Hit the Bucket List,” said Susan who just saw the Rolling Stones in Charlotte and was able to cross “See an epic rock concert” off her bucket list.
Whatever your passion, it all starts with having a retirement plan that includes protected income, an essential foundation to not outliving your money and living the life you want in retirement. A great starting place to ensure you have enough protected income to cover your essential expenses in retirement is the Alliance’s “Check off the Basics” guide.
Check Off the Basics modernizes the traditional approach to retirement planning, which focuses on saving a lump sum of money for retirement. Though saving is still critically important, the problem is how will you know you’ve saved enough, and whether that money will last throughout retirement? With Check Off the Basics, you start with determining your essential monthly expenses, things like a mortgage, utilities, and food. Step two is creating a plan to ensure you’ll have enough protected income from Social Security, a pension, or annuities – money you’re guaranteed to receive – to cover those basic expenses.
“Protected income would give me more of a feeling of security. Knowing that if something came up, like COVID, and having to be out of work sometimes, or having to shut down certain places, it would make the world of a difference knowing some was protected”, explained Susan.
The Alliance has tools to help calculate your essential expenses and sources of protected lifetime income. Start with getting your Retirement Income Security Evaluation (RISE) Score. Armed with those results, you can begin checking off the basics and use the rest of your savings to do all those things you’ve always wanted to do in retirement – like checking-off your bucket list.
To learn more about how to rock your retirement, visit www.protectedincome.org