Retirement Planning with Savings and Annuity

Retirement Strategies

Coming up with a retirement savings plan of your own can be stressful.  No matter how you plan to spend your years in retirement, you don’t want to worry about a lack of income.  If you are unsure if you’re on the right track, or whether your income needs can be met, contact one of our licensed agents who can help prepare a retirement strategy that's designed to help secure your financial future.

Questions You May Have

  • How do I start saving for retirement?
  • Am I saving enough for retirement? How long will my retirement savings last?
  • How much do I need in my retirement savings?

Preparing for retirement requires knowing the answer to these questions and so much more. WFG licensed agents can show you how to create a retirement strategy that’s tailored to help you live well in your golden years.

Client spending time with family.

What We Offer

WFG Agents offer options tailored to your needs
  • In the United States, our product offerings include annuities, which you purchase from an insurance company in either a single payment or through a series of payments. Your payout can come in either in a lump sum or be paid out over time. Our life licensed agents can offer fixed and fixed indexed annuities from a variety of providers.
  • In Canada, our properly licensed agents can offer Registered Retirement Savings Plans (RRSPs) or Tax-Free Savings Accounts (TFSA), with agreements with leading product providers, to help you save for retirement. While an RRSP is specifically designed for retirement savings, a TFSA can be used for this purpose or any savings goal. Please ask your WFG agent which one would be right for you.

Frequently Asked Questions

When should I start saving for my retirement?
The best time to start saving for retirement is as early as possible. Starting early allows you to contribute smaller amounts each year to reach your retirement goal. On top of that, compounded interest allows you to earn interest not only on your initial investment but also on the interest that accumulates over time.

Should I work with an agent for retirement planning?
Yes. WFG’s independent agents are trained financial professionals with expertise in retirement planning. Your agent can work with you to create a personalized retirement plan tailored to your unique financial situation. Agents can help develop a strategy that aligns with your retirement goals, then provide ongoing support, regularly reviewing your retirement trajectory.

How much should I contribute to my retirement accounts?
The amount you need to save for retirement depends on when you plan to retire and your preferred living standard. Do you plan to travel extensively or downsize your home? You may want to create a list of your expected retirement expenses. Include essential costs such as, housing, healthcare, food, and utilities, as well as estimated expenses for your enjoyment like entertainment and travel. A licensed WFG agent can help you create a comprehensive retirement plan and adjust it as needed over time.

Can I access my retirement savings whenever I want?
If possible, try to leave this money alone to work for you. Withdrawing from retirement accounts before a certain age may trigger withdrawal penalties. Consider alternative sources of funds before tapping into retirement accounts. Even if you’re changing jobs, rolling over into a new employer's plan or leaving the funds where they are is often recommended.