A Retirement Paycheck Can Be Yours

Monday, March 1, 2004

Planning HELPFUL HINTS FROM EXPERTS A  Paycheck Can Be Yours (NAPSA)—Finding a safe haven for your retirement savings can seem more challenging than ever. Fortunately, you have options that can help you make the most of your nest egg. One is an annuity that guarantees a steady stream of incomeforlife. It’s known asa lifetime income annuity. With just 21 percent of Americans covered by employer-sponsored pension plans, according to the Bureau of Labor Statistics, people need help safeguarding their retirement income. However, people are also living in retirement longer than ever and depending on their savingstolast. Instead of pension plans, many employers now offer 401(k) savings plans but the returns on these investmentsare often unpredictable due to market conditions. Growing numbers of employers are also reducing or eliminating their contributions to such plans. Fortunately, by placing your money in a lifetime income annuity, you create a steady stream of income you can rely on for the rest of your life. The product guarantees payments that won’t vary with changes in the financial markets, unlike investments in stocks or mutual funds. Plus, lifetime income annuities also provide a numberofflexible features. For instance, even though your cash payments are fixed at the amount you’ve chosen, if you find you need more cash for a few months, some lifetime income annuities allow you to readjust your payments. In the event of a crisis, like a natural disaster that damages your home, lifetime income annuities can also offer immediate access to emergency cash. Another important feature to look for are lifetime annuities that gradually increase your monthly payments to keep pace with inflation. Even if you live a long time and collect cash payments well beyond what you invested into the annuity, there may be options that allow you to leave somethingto yourheirs. Not all of these options are available on all annuities or to annuitants of all ages. To make the most of your annuity plan, it is important to back it up with an insurance company you can trust. A company with a long, steady track record, like New York Life Insurance Company, can help provide the stability that is essential. Remember, this is a company you'll be trusting to guarantee a lifetime stream of income that you'll need through yourretirement. A retirement plan that offers cash payments yet gives you the flexibility to access cash when you need it can provide tremendous peace of mind no matter what the future may hold. To find out more information about lifetime income annuities, visit www.newyorklife.com.

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