This post was brought to you by J Women’s Network and Genworth. All opinions are my own.
Retirement is not really something that I am able to think about yet … I unfortunately still have many working years ahead of me. But, after doing a bit of research I learned that it is something I should be giving some thought and planning to. I had always thought that savings accounts and 401(k) plans were the way to go for retirement, but now I am not so sure.
A savings account is something that I am familiar with and the ability to put a little bit away each month makes me feel like I am taking a step in the right direction, but I am a little leery of these option as my only means of saving for my senior years.
I feel like the market is a bit too unstable right now for me to sink my money into something that may not hold its value for 20+ years. As an alternative to just having a nest egg stashed away, I started thinking about a fixed annuity with Genworth.
A fixed annuity offers a bit more balance in any retirement planning and provides protection from market declines while giving you growth potential over time. Plus it can provide a stream of retirement income when the time comes that you need that.
This sounds like the perfect way to supplement what I end up socking away on my own. While I am no expert, it definitely seems like a good idea to place my money in something that will actually give me a bit of return.
The market fluctuation and low interest rates available right now are not ideal, and there really is no saying when they will start to improve. While it won’t stop me from saving money, it does make me consider additional avenues to do so. I am not quite ready to make the jump and start opening a bunch of accounts, but I do like knowing that I have options, and the benefits of those options.
If I have learned anything about retirement planning it is that it’s never too early to start planning for the future, and I feel much better about it knowing that there are multiple ways that I can provide for my future self.