You may be able to use time to your advantage when investing for wealth accumulation.
The longer you invest, the more potential your money has to compound interest. However, with fluctuations in the stock market, it is important to remember that more conservative retirement strategies typically have only a portion of the assets invested in the stock market. Allocations can be set aside for more conservative investments and/or secured* income contracts such as annuities. Annuities may be long-term vehicles designed to generate supplemental income during retirement. They may have minimum guarantees backed by the strength and claims-paying ability of the issuing insurance company. After all, the last thing you want to potentially happen is lose more ground during the next market correction.
* Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing carrier and may be subject to restrictions, limitations or early withdrawal fees.
3 Surprises That Can Derail Even the Most Cautious Retirement Plan
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