Not sure if you should allocate some of your investments toward creating a future stream of guaranteed income? Here are three reasons why you should.
1. Guaranteed Income May Keep You Off The Streets One Day
By using assets to create a certain minimum amount of guaranteed income you’ll know you always have enough money coming in to cover essential expenses like food, clothing and shelter. This is a strategy that in the best of times just leaves you feeling more secure, and in the worst of times, keeps you off the streets.
2. Guaranteed Income Provides Protection Against Future Bad Decisions
Ensuring you have a base layer of guaranteed income also protects you from future bad decisions. Unfortunately, time after time I have seen family, friends and supposed trusted advisors take advantage of aging clients. You don’t know what kind of decisions a future you may make; you can protect yourself now by using some of your assets to create a layer of guaranteed income that will be there for you regardless of what happens to other assets.
3. Guaranteed Income Guards Against Poor Investment Returns
You may be able to invest your funds and generate more income than what you can get through guaranteed income products… or you may not; the outcome is not certain. By allocating at least a portion of your funds to creating a guaranteed income stream, you are securing a minimum lifestyle regardless of investment performance.
