If there’s one thing Americans have learned from the financial crisis of 2008, it’s that they do not want to lose their money – again – especially for folks of a certain age, said financial advisor Philip Rousseaux, a member of the esteemed Million Dollar Round Table association’s exclusive Top of the Table forum for the world’s most successful financial services professionals.
Rousseaux offers this tip to help you stay retired:
Explore fixed-rate indexed annuities: Investing all of your retirement savings in Wall Street exposes you to a lot of risk. That may be acceptable when you’re in the prime of your career, but it’s important to find alternatives that provide for growth while protecting savings. “Fixed-rate indexed annuities, where you loan an insurance company money and it guarantees you payments over a specified length of time, allows you to forecast the income you’ll generate,” Rousseaux said. “While these annuities will have a ceiling on interest rates, they’ll also have a floor. Your principal is safe and you can ride an up market without the risk.”