Is your Retirement Savings Hidden?


Posted on 16th April 2012 by Rita in Annuities

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hide your money is it best?

Hidden away life savings… Where is your Retirement Money? Would you answer: Mattress, cookie jar, in a coffee can buried in the back yard… or would you say it’s in Investments, 401k and/or annuities.

No doubt there are many different possibilities an individual can utilize for saving money. Learning all your options before choosing an investment plan, usually is the smartest way to go about this task.

I wanted to share a story about an 80-year-old man who kept his life savings sewn inside the lining of one of his suits. (He obviously has an issue trusting a bank with his money.) The disastrous part is when he made a clothing donation to his local Goodwill and mistakenly donated the suit with his life savings of $13,000 sewn inside. He has since notified the proper people at Goodwill, who are doing all they possibly can to find this gentleman’s suit for him and his life savings. (Link to the story: Man accidentally give away life savings hidden away in suit donated “Goodwill”)

I don’t know about you but stories like this make me cringe. There are so many better and safer ways to save your money. Annuities are one such financial vehicle that will help you with your retirement savings the smart way. Did you know annuities can help protect a portion of your savings, while provide a stream of income during a person’s retirement? What better way to have guaranteed stream of income in retirement.

Annuities provide protection from a person out-living his or her money. For the most part annuities are purchased to help supplement retirement income. In-addition to retirement, annuities are used to fund or help fund college education and many more possibilities. Providing flexibility and security when you realize they can be used for any situation that requires a steady stream of income at some point in the future.

Wondering if an annuity is for you? Start with the following posts… then contact myself or your financial representative today.

What is an Annuity?

Traditional and Roth IRAs

Note: This blog is designed for general information purposes only. All information presented on this site should not be interpreted as legal advice and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information. For legal and tax advice contact your attorney or tax adviser.

Rita Sollie, Direct Insurance Representative with North Coast Life Insurance Company (NCL). No gimmicks or schemes here, just genuine and honest service. We don’t sell insurance, we solve problems. I welcome the opportunity to show you what NCL can do for your Life Insurance and Financial needs.
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