As of the beginning of 2016, there are approximately 40 million Americans that are 65 years of age and older. By the year 2030, everyone that’s a part of the Baby Boomer generation will have passed the age of 65. As a result, the population of people older than 65 will be about 73 million people or roughly 20% of the U.S. population.

With advances in technology, we’re living longer. But more of us than ever before will experience a longer retirement than our predecessors, and we’ll need to plan carefully and wisely in order to enjoy our golden years. We can no longer rely on Social Security to provide. But when it comes to retirement planning, should you choose a market-based retirement account that can rise and fall from year to year? Should you choose a retirement account that grows or stays the same throughout the years?

At Black Harbor Wealth Management, we can provide years of experience that can be put to work advising you on your financial future. Your retirement doesn’t have to be at the mercy of the stock market. For example, an annuity is an insurance product that pays out a series of sums. By making an investment in the annuity, you can receive payments on a future date or series of dates. Another option is utilizing life insurance for retirement planning. Permanent life insurance can accumulate cash value while term life insurance is a great low-cost way to provide for your loved ones after you’re gone. 

Since every person is different, every retirement plan is different. Contact us today for a free consultation, and we can create the plan that fits you.