Advice from Labib: Are you planning for retirement?

Advice from Labib
Are you planning for retirement?

Retirement plans have been changing in recent years. Employers have moved from defined benefit plans to defined contribution plans. This trend has put more responsibility with employees to plan for their retirement. Unfortunately, research indicates that employee contributions to these plans are far less than they should be. This increases the risk that an employee may outlive their retirement income.
Why are employees hesitant to participate in an employer-sponsored program? There are several factors that influence one's decision to participate. These factors include: 1) Saving money for tomorrow means having less money today; 2) People want to take the easiest route. Enrollment may take too much effort; 3) The extensive choices offered in current pension plans is overwhelming to employees.
Participating in an employer's retirement plan is very important. To make this process easier for employees, many employers now offer automatic enrollment and financial education. In addition to participating in an employer-sponsored plan, annuities are another great way to save for retirement. Annuities grow tax-deferred until withdrawn and provide an income that you can never outlive!
To learn more about annuities and how they can work for you, contact our office at 301-824-4523.

Alfred Labib is an Independent Financial Advisor. "Our Goal Is To Help Investors Grow And Preserve Their Wealth Through Discipline And Process." 301-824-4523, www.labibfinancial.com.