Is social security sufficient? Marvel Wealth Management Offers Guide to Generating Income During Retirement

With the precarious economic landscape of Covid-19, many retirees find it difficult to settle down and live their years comfortably. Rising taxes, inflation, rising healthcare costs, and unpredictable returns on investment make the future uncertain.

MELBOURNE, FLORIDA, USA, October 14, 2021 / – Many retirees are not convinced that Social Security will support them throughout their retirement. With an uncertain future, Marvel Wealth Management has released a new guide that offers practical advice on how to prepare financially for retirement.

This guide states that retirees must earn 80% of their current working income to maintain their lifestyle. However, 41% of retirees fear outliving their savings and investments. Many people also expect Social Security to run out before future retirees can claim it, and expect higher tax rates or a later retirement age.

To generate consistent income and live comfortably through retirement, the guide suggests that people start saving and investing well in advance of retirement. Marvel Wealth suggests several forms of income to consider, including:

• 401K plan: savings plan matched by the employer
• IRA: personal savings plan financed by the government
• Pensions: regular payments made during retirement by a former employer
• Real estate investment funds: real estate investments in the form of mortgage loans or direct participations
• Annuities: investment contract with an insurance company that guarantees a return at a fixed, variable, immediate or deferred rate.
• Preferred shares: shares which have a fixed dividend and offer different rights to shareholders.
• Consulting: source of income from providing expertise in a specific sector

For adults nearing retirement, it’s never too late to start preparing. While it can be difficult to secure retirement funds in old age, a financial advisor can help seniors determine what options can best help them generate sufficient income to maintain their quality of life after retirement. .

Marvel Wealth Management offers financial advice and can help people build wealth and protect their assets throughout their careers and beyond. They can help adults explore options for retirement plans, investing, personal savings, etc. Interested parties can find out more by visiting the Marvel Wealth Management website.

Matthew Lamb
Marvel Wealth Management
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