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I thought I had plenty of time to save for retirement I just didn't think that the time would fly by so fast sound familiar me too at age 25 we probably were saying hey we can't save for retirement now we just got out of school and have student loans to pay off we deserve to have a little fun we have plenty of time to save for retirement but then just a few years later at age 35 we said we can't put away another nickel now we have a growing family a new mortgage and private school tuitions we'll stash away more savings when the kids are older we'll have extra money then Yeah right and then at age 45 save more for retirement retirement are you kidding we've got a child in college and this is the most expensive time in our lives we'll start putting money away when our child graduates it'll be like a a pay raise right well then at age 55 we say something like hey we know we should be saving more but things just haven't worked out the way we thought we're very comfortable in our jobs now and at our age it's not that easy to start a new job but now we'll just have to ride along as we are we think some of our investments may start to pop top then at age 65 where did the years go we thought we had plenty of time and extra money to save for retirement we weren't really worried because our 401ks and our tech stocks were flying off the charts then the bottom fell out of the market so what can we do now we don't have a lot of extra cash flow is there anything we can do to have more retirement income our Social Security our pensions and 401ks just won't be enough and we can't afford to take risks what's the answer help well the answer is the personal pension plan folks the old retirement model of past generations is gone back then along with the gold watch companies expected to pay retirement benefits for only about three to four years my how things have changed today's retirement period can last twenty five thirty thirty five years or more the new retirement model is all about longevity that's why the personal pension plan is important in assuring that today's retirees have an income guaranteed long after that gold watch has quit working let's take it step by step first what type of lifestyle do you want to maintain during retirement secondly what life income is available to support that lifestyle for example your pensions Social Security 401k third what amount of essential and discretionary income do you need fourth what financial lifeboats are available to sustain your lifestyle should the unforeseen occur and finally fifth how much do you need and when do you need it well that's the beauty in developing your own personal pension plan it's not a one-size-fits-all model it's all tailored to your needs and desires there are no wrong decisions most importantly the personal pension plan is designed funded and implemented with fixed guaranteed products no wishin and hopin no Gamble's only guarantees the personal pension plan provides a stream of income for as long as your retirement journey takes not only for you but also if you have a spouse he or she is afforded the same comfort it appears that the majority of Americans are not very positive about the prospects of having a secure retirement even for those lucky enough to have pensions they know their pension is unlikely to be sufficient you see we've all been operating off the same three legged stool concept that's been used for generations consider this one pensions we used to think that our pension would give us enough money to live on for the rest of our lives well it turns out we need more and that assumes that you're lucky enough to have a pension in the first place today most Americans are creating their own pensions through 401ks now the difference between the defined contribution 401k and the defined benefit pension is all in the guarantees or lack thereof when it comes to 401ks we just keep our fingers crossed and hope for good financial winds secondly Social Security for most baby boomers and for those already retired Social Security may last through our lifetimes however boomers will need every penny because most of us haven't saved enough to supplement our Social Security benefits which brings us to number three personal savings the most important component in planning for successful retirement and again for those already retired the job is not over we still need to have the maintenance plan how our personal savings converted into income well there are many choices including investments real estate and so forth for those who no longer have a stomach for risk the choices are fewer many Americans are looking for safe money places like fixed annuities many financial advisors present Monte Carlo simulations that describe different withdrawal scenarios based upon years of past stock market performances now these scenarios show that based on different assumptions you should be safe and not run out of money equities are and will continue to be for many an important part of the retirement plans but what about those who want a 100% guarantee that they won't run out of money what's available to them the answer again is the personal pension plan the personal pension plan is an old idea that's making a big comeback due to its simplicity it entails separating essential and discretionary income needs determining the need for increased income in the future and analyzing assets available for income today and the potential income they would provide and then answering the big questions how much do you need and when do you need it sounds simple doesn't it that's why it is in such favour today many Americans are taking some of their at risk money and placing it in safe money places some have determined that they are at a place in life where they want zero investment risk and are willing to sacrifice the potential of great returns for the comfort and tranquillity of guaranteed income for life that they cannot outlive so what types of annuities can you use well it all depends on your needs and timelines how much does it take to fund the guaranteed income desired the personal pension plan is not a one-size-fits-all plan we will need to gather some information from you have you map out the amount of income you will need and when you will need it and also take into consideration any special needs or desires that you might have when most boomers or retirees are asked well how long do you want this income to last they usually say forever when they ask the advisor why are you using annuities to accomplish these goals the answer is the theme song from that old 1971 James Bond film of the same name diamonds are forever well so are annuities so contact your safe money places agent network member as soon as possible and find out what the personal pension plan might do for you if you don't have a safe money places agent network member yet just call 877 844 0 900 to find a member near you he'll be glad you did there's still time for you to get your retirement years on track financially so give us a call today