Tuesday, February 24, 2015
How to protect the purchasing power of income assets - Don't Worry, Retire Happy
Many retirees are expressing concerns about the effects of inflation that can erode the purchasing power of their retirement income. Most guaranteed lifetime income annuities offer cost of living adjustments that can keep pace with inflation. With a few exceptions, Social Security has generally increased the monthly benefit to help preserve the purchasing power of retirees.
But sometimes income from Social Security benefits and retirement funds are still inadequate to maintain a desired lifestyle. So many seniors have turned to reverse mortgages and/or home equity loans to subsidize their income. Home loans are tax-free and can be very helpful in retirement planning. But all reverse mortgagees and equity loans are not equal, so it's imperative to investigate the benefits of each mortgage company before deciding on one.
Syndicated financial columnist and talk show host Steve Savant interviews author, platform speaker and PBS television media guest Tom Hegna, CLU, ChFC, CASL. This is episode 2 of 5 in the series, Don’t Worry, Retire Happy from Tom's PBS Special. Tom's books: Paychecks & Playchecks, Retirement Income Masters and Don't Worry, Retire Happy.
About Steve Savant
As the National Marketing Spokesperson for Ash Brokerage, Steve Savant looks forward to meeting financial professionals in every way possible - in person or by video through conferences and social media.
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