During retirement, you will face a variety of living, medical, and discretionary expenses. To cover these, your retirement
nest egg should ideally replace at least 75 percent of your current income.
Don't outlive your assets.
A Single Premium Immediate Annuity (SPIA) is one way to produce retirement income by converting a single lump sum payment into a guaranteed series of payments over your lifetime and/or a guaranteed period. The single lump sum payment for an SPIA can be obtained from savings and investments, selling a business, or payouts from a retirement plan.
CAUTION: SEVERE WEATHER DRIVING AHEAD
If you live in an area that gets wintery weather, does the first snowfall of the season seem to bring on a rash of fender benders and crashes? Even though we all know what happens to the roads in the cold weather, that first dose of winter can be a real eye-opener on how to drive on snowy, wet, and slippery roads or when visibility is poor.
To avoid getting caught off-guard when road conditions go from good to bad, a little advance preparation-for you and your car-may help you steer clear of those fender benders.