How to use life insurance to fund your retirement
Maybe you've heard it before: if you have enough life insurance, then you can buy an annuity and spend the rest of your years in retirement. Most of us plan on retiring well into our 80s or 90s, which means that we need a lot of money. Life insurance is the best way to make sure we have funds to live on when we're older and qualify for Social Security. If you have a lot of life insurance and put that money away for your retirement, then you can buy an annuity. An annuity is a special type of life insurance in which the payment you receive each month from a company is exactly equal to the amount of money you will receive from Social Security every month.
Most people, however, don't have enough life insurance to fund their retirement, especially if they prefer to spend their money on other things like travel or hobbies. If putting your money into an annuity sounds too expensive for you, try using it as a supplement.
Maybe you've heard it before: if you have enough life insurance, then you can buy an annuity and spend the rest of your years in retirement. Most of us plan on retiring well into our 80s or 90s, which means that we need a lot of money. Life insurance is the best way to make sure we have funds to live on when we're older and qualify for Social Security. If you have a lot of life insurance and put that money away for your retirement, then you can buy an annuity. An annuity is a special type of life insurance in which the payment you receive each month from a company is exactly equal to the amount of money you will receive from Social Security every month.
Most people, however, don't have enough life insurance to fund their retirement, especially if they prefer to spend their money on other things like travel or hobbies. If putting your money into an annuity sounds too expensive for you, try using it as a supplement.
