Thursday, 30 July 2020 13:49

Planning today for tomorrows retirement

The economic collapse of 2008 taught harsh lessons about the potential for portfolio losses and how that could derail one’s retirement plans. When there’s volatility in the market, it’s natural to worry about your retirement nest egg. Actions taken today can affect your financial security tomorrow, so let’s map out a strategy that includes guarantees that may help ease concerns despite fluctuations in the stock market. Annuities can help. 

When used correctly annuities can be powerful long-term retirement planning tools by helping to create an income stream for life. Annuity payments can be received monthly, quarterly, annually or in a lump sum, and have tax deferral benefits. Variable annuities allow investors to potentially grow assets in the market, with the opportunity to add optional guarantee features for an additional fee that provide  downside protection. Younger investors planning for retirement may be interested in the growth potential of a variable annuity. Some providers like New York Life offers certain variable annuities with an option called an  accumulation benefit rider which provide principal protection over a chosen holding period. This means that at least the initial premium is guaranteed at the end of the holding period, helping to address volatility concerns. 

Income annuities are known for their efficiency in generating guaranteed lifetime income. Other than a pension and Social Security, a guaranteed income annuity can also produce a lifetime payment stream.  It is like getting a “paycheck” for life.  With a guaranteed income annuity, you can have peace of mind with the knowledge that you’ll have a steady retirement income to help with basic expenses in retirement, while weathering market volatility.

While investors may react differently to fluctuations in the market, many can benefit from working with a trusted financial professional to support the retirement planning process. Let’s schedule a meeting to talk through worst case scenarios, your tolerance for risk and any other changes to your financial picture that necessitates refining your current approach. Together we can put a plan in place that will help you live out the retirement of your dreams.

Important disclosures: 

Guarantees are based on the claims‐paying ability of the issuer. For variable annuities, guarantees do not apply to monies allocated to the variable investment options as they are subject to market risk and will fluctuate in value.

Annuities contain certain fees, risks, limitations and restrictions. Investors should speak to a financial professional for costs and complete details

This educational article is provided as a courtesy by Barry J. Bruno, CLU(CA Insurance Lic. # OB65966)  and ChFC, and Daniel D. Bruno, Agents, New York Life Insurance Company (NY, NY) and Registered Representatives of NYLIFE Securities LLC (member FINRA, SIPC) 7 Court Street, Saratoga Springs, NY 12866, (518)587-9295, a Licensed Insurance Agency and New York Life Company.  To learn more about the information ortopics discussed, please call Bruno & Bruno Financial Services LLC and ask for Barry or Dan at 518.587.9295 or email: This email address is being protected from spambots. You need JavaScript enabled to view it. or This email address is being protected from spambots. You need JavaScript enabled to view it.. Bruno & Bruno Financial Services LLC is not owned or operated by New York Life Insurance Company or NYLIFE Securities W. 

Together we can address your market volatility  concerns with these simple steps:

Do a portfolio check

Look for ways to optimize spending

Balance the need for cash reserves with the opportunity for growth

Discuss how Social Security could impact retirement income 

Add guarantees to the portfolio

Read 2564 times


  • Saratoga County Court Matthew J. Gifford, 31, of Saratoga Springs, was sentenced to 5 days incarceration and 5 years probation, after pleading to felony DWI, charged February 2024 in Saratoga Springs.  Kevin P. Masterson, 52, of Mechanicville, was sentenced to 6-1/2 years incarceration / 5 years post-release supervision, after pleading to criminal possession of a weapon in the second-degree, charged May 2023.  Shawn Flores, 45, of Milton, pleaded to criminal contempt in the first-degree, charged February 2024. Sentencing July 30.  Nicholas F. Bonfante, 44, of Halfmoon, pleaded to criminal sale of a controlled substance in the second-degree, a felony, charged…

Property Transactions

  • BALLSTON  Eastline Holdings LLC sold property at 1 Aspen Drive to Sateeshnvss and Srividya Gudipaty for $549,980 Adesh Budhraj sold property at 1 Larkin Road to Katz Excavating and Construction LLC for $65,000 CORINTH William and Robert Morgan sold property at 677 County Route 25 to Christin Guilder for $285,000 GALWAY Rita Werner and Erin Forlenza sold property at 1064 West Galway Road to Karen Crandall for $145,000 GREENFIELD Desolation Ventures Inc. sold property at 498 Lake Desolation Road to MW Real Estate Enterprises, LLC for $680,000 Justin Kelsey sold property at 519 North Creek Road to Scott and David…
  • NYPA
  • Saratoga County Chamber
  • BBB Accredited Business
  • Discover Saratoga
  • Saratoga Springs Downtown Business Association