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Avraham "AY" Rappaport, CLTC
President, Financial Professional
Yaniv "Jay" Natanov
President, Financial Planner
Eli Rappaport
Vice President, Financial Planner
Shlomo Rosenstein
Financial Professional
Ozzie Marizan
Financial Planner
Joseph Greer
Employee Benefits Administrator
Dylan Pinsky
Client Relations Manager
Premier Financial
6395 Dobbin Road, Suite 102
Columbia, MD 21045
Phone: 240-309-6001
Email: dylan.pinsky@prudential.com
Website: premierfinancial1.com
May/June 2023
Living with Inflation: Tips for Retirees
Nearly everyone is affected when inflation rears its ugly head, but seniors living on fixed incomes may be in the group that’s hit the hardest. Because the purchasing power of the dollar has declined, people in or near retirement who’ve invested conservatively now have less money to spend. While no one can control inflation, there are steps seniors can take to help ensure they have enough money in the future.
Review Your Investments
Consider choosing investments that offer opportunities for income and growth with relatively low volatility. Dividend-paying stocks, bonds and real estate may help keep your portfolio on an even keel during inflationary times. Make sure you rebalance periodically to avoid having to take stock distributions during a down market.Consider an Annuity
Inflation-protected annuities* guarantee a rate of return at or above inflation based on an annual cost-of-living adjustment. Payments may be for a fixed period or over a lifetime. However, inflation-protected annuities may provide a lower payout than other annuities. Consult your financial professional about the fees, conditions and suitability of annuities for your situation.Assess Your Budget
Cutting back on spending is a sure way to put more cash in your coffers. Review subscription services, such as premium cable, streaming services, and phone plans, to find places to cut back.Delay Retirement
If you’re not yet retired, consider this: For every year that you wait to claim Social Security benefits, up to age 70, your benefit will increase by eight percent. Waiting to retire also gives you more time to contribute to your retirement plan.*Fixed annuity contracts guarantee a minimum credited interest. For immediate fixed annuity contracts, annuitants receive a fixed income stream based, in part, on the interest rate guarantee at the time of purchase. For fixed deferred annuity contracts, the insurer credits a fixed interest rate to contributions in the accumulation phase and pays a fixed income payment when annuitized. Annuity products are not FDIC-insured, and their guarantees are backed solely by the claims-paying ability of their issuing life insurance company.
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Premier Financial is not affiliated with Prudential Financial. Premier Financial sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Premier Financial is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Premier Financial and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Dylan Pinsky is employed by Eli Rappaport and not The Prudential Insurance Company of America or its subsidiaries.
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