Regaining Control

If You're Over 60

If you are already in or close to retirement, and your savings are not what you expected to have on hand to support your income needs, this may be an especially scary time. But there is good news.

New York Life and its subsidiaries can help you get closer to your desired retirement income level by using a Guaranteed Lifetime Income Annuity. As it was revealed in a research paper published by the Wharton Financial Institutions Center, an income annuity can provide the same income using 25% to 40% fewer assets than you would need to create that same income stream on your own. In other words, even though your retirement nest egg may be worth less than it was several months ago, you may still be able to enjoy the income level you expected.

A Guaranteed Lifetime Income Annuity from New York Life Insurance and Annuity Corporation can:

Provide you with an income for as long as you live, so you'll never run out of money*
Generate an income that is not affected by what is happening in the financial markets, so the checks keep coming month after month, no matter what
Protect your purchasing power against rising inflation with an option that increases your payments each year, up to 5%, depending on what you choose

If you are looking to protect the futures of your loved ones, you may want to consider whole life insurance to ensure your legacy will be left behind for your heirs.

While these are just a few examples of what you can do to address the impact of the financial crisis on your retirement savings and your legacy plans, your specific situation may involve additional options not discussed here. Click on the button to contact a New York Life agent who can help you find the best solution for you.

*Guarantees are dependent upon the claims paying ability of the issuing insurer

If You're Under 60

If you find that your current retirement savings won't be enough to provide the income you expect to need in your retirement years because of the economic crisis, the time to act is now. New York Life and its subsidiaries offer solutions that can help you protect against the instability of the financial markets. While everyone has been affected by the downturns in the financial markets, you can consider:

Protecting yourself against market volatility with the security and stability of whole life insurance, which provides a guaranteed death benefit, duranteed premium and guaranteed cash value that accumulates tax-deferred *
Adding some stability to your portfolio with a fixed deferred annuity from New York Life Insurance and Annuity Corporation, which provides a steady interest rate guaranteed* over a specified number of years
Covering the of your portfolio with a term life insurance policy that can help protect your family should anything happen to you.

Alternatively, there are changes you can make to your lifestyle to help offset the damage caused by the financial crisis, such as:

Saving a higher percentage of your current income. A little more saved today can make a big difference in reaching your retirement goals.
Continuing to work longer than you originally anticipated. Delaying your retirement date gives you more time to build your retirement nest egg, while avoiding the need to tap into those funds sooner.
Planning to spend less in retirement, especially in the early years. That will give the money you have accumulated more time to grow.

While these are just a few examples of what you can do to address the impact of the financial crisis on your retirement savings, your specific situation may involve additional options not discussed here. Click on the button to contact a New York Life agent who can walk you through a wide range of options.

*Guarantees are dependent upon the claims paying ability of the issuing insurer