In retirement, not losing money is paramount. Unfortunately, many people take too much risk and are too confident in their financial position, not knowing that it takes significantly more time to recoup from losses once they retire. Consumer Retirement Network, an organization committed to helping people retire with confidence, sits with renowned economist and former White House director of economic policy Todd Buchholz to discuss common retirement mistakes people make and how insurance-backed bonds offer a solution.
According to Mr. Buchholz, people make five major mistakes when they enter into retirement: misunderstanding their timeline, not having a contingency plan, poor tax planning, lack of diversified portfolio, and unwillingness to change plans. These mistakes lead to devastating consequences that can derail retirement plans and even affect the lives of loved ones.
To avoid these mistakes and offset the risks, Mr. Buchholz says investment options outside the market are the way to go. Insurance-backed bonds offer the most attractive benefits.
Insurance-backed bonds have all the benefits of traditional bonds without the risks involved. Insurance companies buy the bonds on the investor’s behalf, ensuring their savings aren’t exposed to market fluctuations. Investors don’t lose money when the market crashes, but they capture gains when it goes up.
Insurance-backed bonds offer true investment diversification, not riding the highs and the lows of the market. There’s the guarantee that one won’t lose principal, draw consistent cash even with market volatility, and grow their nest egg at tax-deferred with compounding interests. Moreover, it allows investors to safely adjust to their plan without feeling like they need to restructure the entire thing.
If responsibly used, insurance-backed bonds are potentially the safest and the best investments one can make for their retirement. It can offer retirees the security and the peace of mind they need to enjoy their golden years.
About Consumer Retirement Network
Consumer Retirement Network is an organization of authorities and professionals dedicated to helping individuals retire with confidence, knowing they will never run out of money. It recently released The 7 Big 401k Retirement Mistakes to offer straightforward and insightful retirement education for free. Learn more here: https://consumerretirementnetwork.org/.
About Todd G. Buchholz
Todd G. Buccholz is a top economist, keynote speaker, former White House Director of Economic Policy under President George H.W. Bush, and is an award-winning economics teacher at Harvard. He is also a critically-acclaimed author of several bestselling books, including New Ideas from Dead Economists (2021), The Price of Prosperity (2016), and Rush: Why We Thrive in the Rat Race (2011).
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