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What are you investing for? The responses are wide and diverse. Return, growth, assets, freedom, fun.
Rarely do I hear the answer that matters most. Income. We all need an income that we can count on. Consistent cash flow that shows up in our account every single month, like clockwork. Can you imagine never worrying again about how you will pay your bills or whether your money will run out? Or having the joy and freedom of traveling without a care in the world? Not having to worry about opening your monthly statements and praying the market holds up? Having the peace of mind to give generously to your favorite charity and not wonder if there will be more her that came from? We all know, income is freedom.
The wealthy know that their assets will always fluctuate in value. But you cannot spend assets. You can only spend cash. They were asset rich and cash poor. This equation often leads to bankruptcy. Always remember that income is the outcome.
One of the more exciting structures for locking down income has other powerful benefits as well. It is the only financial vehicle on the planet that can give your the following.
100% guarantee on your deposits.
Upside without the downside, your account value growth will be tied to the market, so if the market goes up, you get to participate in the gains. But if the market goes won, you do not lose a dime.
Tax deferral on your growth.
A guaranteed life time income steam where you have control and get to decide when to turn it on.
Income payments can be made tax free if structured correctly.
No annual management fees.
The financial future that your envision is very much like climbing Mount Everest. You will work for decades to accumulate your critical mass but that is only half the story. Achieving critical mass without having a plan and strategy for how to turn it into income that will last the rest of your lifetime will leave you.
