Examining QLACs in 5 Easy Steps
Running out of money in retirement is a common fear among pre-retirees and retirees. With longer life expectancies, market volatility and rising healthcare costs, funding a retirement that could last many years can be an overwhelming prospect. A qualifying longevity annuity contract, or QLAC, can help alleviate this concern by providing a predictable stream of income in retirement that is insulated from market downturns.
A QLAC is a type of fixed income annuity that is held in a retirement account, such as an IRA. While QLACs can be a great option, they also come with certain rules you will want to consider.
For more information on retirement planning options, contact our office at 516-294-5287 to schedule a time for a visit.
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