USAA Life Insurance Company (USAA Life Insurance Company of New York)
Ready to start planning for the life you want in retirement?
Schedule a call with a Retirement Income Specialist when it's convenient for you.
Balancing Your Retirement Income
Figure provided for example. Balanced retirement income plans depend on your personal finances.
Protected
Income
Investment
PortfolioSee noteSee note a
Protection
See notea For investments solutions, you can work with our strategic providers, Schwab and Victory Capital.
Live comfortably in retirement.
When you stop working, you want to continue living the same life you lived before. Protecting your retirement income with a balanced plan can help reduce market risk and put you on a path to reaching your retirement goals.
Whether you're just starting to save or already living in retirement, now is a good time to start planning for your future life in retirement. We can work with you to create a plan, so your standard of living remains the same when you retire.
Call a USAA Retirement Income Specialist at 800-531-3392.
Plan for retirement income with an annuity.
Hear how members built their retirement income strategy.
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Is your retirement plan balanced?
Our approach to retirement considers income, growth and protection. We'll help you manage risks like inflation, Social Security and more.
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Are you prepared to navigate retirement risks?
Retirees must plan for Social Security, medical costs, inflation and longevity risks. Watch now to see how.
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Spend the way you want during retirement.
Hear from other retirees on how income annuities help give them the freedom to spend in retirement.
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Do you have a retirement income plan?
Now that you're retired, you may have questions on how to make your income last. See how...
Do you have a retirement income plan?
Helping to protect your Dreams in Retirement
Helping to protect your Dreams in Retirement
Helping to protect your Dreams in Retirement
Is your retirement plan balanced?
Video Duration: 1 minute 44 seconds
Transcript Date: February 21, 2023
Our approach Elapsed Time 0 Seconds [00:00]
Hello, I'm Amanda Reyes, one of your retirement income specialists, and together we'll create a plan that will help you live your best life in retirement.
I'll help you navigate the risks to retirement like inflation, decisions around Social Security and medical expenses.
Our approach to retirement comes from understanding the needs of the military community. We'll help you wisely distribute your retirement money that took you a lifetime to save with a balanced strategy that focuses on income growth and protection.
Income and growth Elapsed Time 0 Minutes, 30 Seconds [00:30]
First, we'll focus on income. The goal is to create enough guaranteed income in retirement to cover all of your essential expenses. This can be done through Social Security pensions and annuities, an annuity issued by an insurance company that helps protect you from outliving your income.
It's a fixed amount of money you'll get each year for the rest of your life.
When your expenses are covered, it allows the investment component of your portfolio to grow. The growth component of our strategy is all about offsetting inflation and growing your current assets.
We work with Charles Schwab and Victory Capital. They are trusted providers that share our core values. Their experts can help grow your investment portfolio.
Protect your retirement Elapsed Time 1 Minute, 14 Seconds [01:14]
And finally, we'll work to protect your retirement. We'll focus on emergency funds, long term care and life insurance.
It can take years to build up retirement savings and we want to make sure to protect your retirement plan from common risks. Our approach can help you avoid risks and help you live your best life in retirement.
Contact us by scheduling a call, calling us directly or visiting usaa.com/retirement.
End Elapsed Time 1 Minute, 44 Seconds [01:44]
Understanding The Risks of Retirement
Video Duration: 1 minute 12 seconds
Transcript Date: January 30, 2023
The importance of Social Security Elapsed Time 0 Seconds [00:00]
Hey there, I'm Tony Medrano with your Retirement Income Team. In our last video, we shared how to build a retirement strategy to live your best life in retirement.
We believe a balanced approach to retirement can help protect against risks that may impact your retirement outcome.
Here are some risks to consider while planning for retirement:
Personal risks — like spending more than your retirement budget or changes to your family dynamics.
Legislative risks — this includes changes to taxes or retirement plans and the future of Social Security.
Health-related risks – these can come in many forms such as large, unexpected medical costs or diminished capacity to manage your own finances.
Investment risks — like Inflation and market risk.
Longevity risk – while a long life can be a great problem to have, you run the risk of outliving your money.
Longevity risk is the most important to think about. If you live a long life with a long retirement, there's a higher likelihood the other risks may disrupt your retirement plan.
How USAA can help Elapsed Time 52 seconds [00:52]
But through planning, you can mitigate these risks. And we're here to help! We have Retirement Income Specialists that are well-versed in risk management.
You can learn more at usaa.com/retirement. You can also schedule a call or call us directly at 800-531-3392.
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Helping protect dream retirement
Video Duration: 1 minute 30 seconds
Transcript Date: February 23, 2023
Income Annuities Provide Reliable Income Elapsed Time 0 Seconds [00:00]
Narrator: Income annuities help provide reliable income, a path to retirement success. For Cheryl, a retired attorney now teaching yoga, an income annuity gives her peace of mind. Description of visual information: [Helping to protect your dream retirement: USAA members share their stories.] End of description.
How Income Annuities Help USAA Members Elapsed Time 18 Seconds [00:18]
Cheryl: "At the time I retired, the market took a huge crash. If I just had put everything in the managed portfolio, I would have had a much higher risk."
Narrator: Retirement may bring unexpected challenges to your independence. A USAA member since 1965, Marilyn has an income annuity that helps with health care expenses.
Marilyn: "I was having to take from my investments each month to pay part of my husband's nursing home bill. I was afraid that my son and daughter-in-law might end up having to support me. What we decided to do was to take one that would pay monthly. For the rest of my life, I would be able to provide for myself financially and not be a burden to my family."
Narrator: Some choose to follow dreams they never had time for while they were working. Bruce, a USAA member of more than 30 years, uses an income annuity to cover everyday expenses so he is free to make up for lost time.
Bruce: "I'm looking forward to pursuing some interests in painting and writing. I've been carrying around my oil paints for the past 30 years. I put them away, which I have certain regrets about. We bought the annuity with the idea of having the freedom to do what I want to do when I want to do it."
Learn More About Income Annuities Elapsed Time 31 seconds [0:31]
Narrator: Learn more about how income annuities may work for you retirement with USAA. Description of visual information: [Learn more about how income annuities may work for your retirement with USAA. 1-800-531-3392] End of description
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A pay check for life
Video Duration: 1 minute 12 seconds
Transcript Date: October 31, 2019
Choosing How to Spend Your Retirement Elapsed Time 0 Seconds [00:00]
Your retirement. It's your time. How do you want to spend it? From family and friends, to hobbies and organizations, you want to focus on what matters. You want to keep doing that your whole life without any unpleasant surprises.
Risks to Your Retirement Income Elapsed Time 18 Seconds[00:18]
The last thing you want is for this time to be tarnished by financial challenges. Income from the stock market can be unpredictable, and for many retirees, this means the prospect of running out of money.
How an Income Annuity Works Elapsed Time 31 Seconds[00:31]
What if there was a way to help secure a reliable paycheck you could count on, plan for, and build your best life around?
A USAA Life Income Annuity can help you do just that.
You pay in a lump sum and then get reliable income for a set period or for life starting immediately. This amount can remain constant regardless of market changes.
Because you have big dreams for your retirement, and if you have the right plan, nothing can stop you.
An income annuity can help you enjoy freedom in retirement to spend your time just how you want.
Description of visual information: [For more information, contact a USAA advisor. 1-800-531-3392]End of description
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Keep your retirement goals in sight.
As you look toward the future, think about the income you'll need to support your retirement lifestyle. Here are some things to consider when creating a plan for your future:
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Consider Cost of Living
The rising costs of basic necessities can impact your spending in retirement.
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Create a Budget
A budget that includes your income sources and expenses can help give an overall view of how long your savings may last.
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Find Money Gaps
There may be additional ways for you to generate a new stream of income that you may not have thought of.
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Cover Daily Expenses
Guaranteed sources of income like Social Security, pensions and annuities can help cover your everyday basic needs.
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Examine Spending Habits and Life Changes
Military separation and other life changes can affect your day-to-day spending. Monitoring habits like overspending can help you prepare for living with a fixed income.
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Consider Market Volatility
Your assets and investment income could be vulnerable to inflation and market volatility over time. Products like annuities could help ensure you don't outlive your savings.
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Anticipate Medical Costs
With age comes the possibility of increased medical expenses. Proper planning may help you offset unexpected medical costs and living assistance your health insurance may not cover.
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Look for Legal Changes
Over time, taxes, Social Security, retirement and military benefits may change due to new laws or guidelines. Staying informed can help you better understand what to expect and how it may affect your life in retirement.
Keep your retirement goals in sight.
As you look toward the future, think about the income you'll need to support your retirement lifestyle. Here are some things to consider when creating a plan for your future:
How prepared are you for retirement?
Calculate Your Retirement Gaps
The retirement income calculator can help you see where the gaps are between your expenses and income, whether you're preparing for retirement or already retired.
Calculate Your Social Security Benefits
The Social Security calculator can help you estimate your benefits and learn how your age can impact the amount you'll receive during your retirement.
Prepare for your retirement income strategy.
In our free e-book, you'll learn about immediate annuities and how they've helped other members achieve financial freedom.
With a few questions, a retirement income specialist can help calculate your retirement income needs. If you find gaps, they'll explain how an immediate annuity could help.
Use our worksheet to understand your ideal life in retirement, risks and questions you should ask your specialist. This will help you prepare for a productive conversation about your needs.
Prepare for your retirement income strategy.
Get support along your retirement journey.
Your decisions today can impact the retirement life you want later. Keep your long-term financial goals a reality and consider these options to help you achieve them:
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Deferred Annuities
Deferred annuities are long-term retirement savings that grow tax-deferred over time. When you're ready to retire, you can choose a lump sum withdrawal or payments.See note1
Learn More About Deferred Annuities
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Individual Retirement Accounts (IRAs)
An IRA is specifically for retirement and offers potential tax advantages. Whether you choose a traditional or Roth IRA, you can invest in a wide range of options to help your money grow faster.
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Life Insurance
Life Insurance can help give your family peace of mind when they need it the most. It can be used to replace your income, cover burial expenses, pay off debt or leave a legacy. Most importantly, it can provide security for your family's financial future.
When you have a fixed income, unexpected events can affect your lifestyleSee note1. To counter these, think about ways to protect your income and lifestyle for quality living.
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Immediate Annuities
Immediate annuities are typically purchased closer to retirement, with payments to start within 12 months.
Learn More About Immediate Annuities
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Prepare for Long-term Care
You may find yourself needing care or living assistance later in life. Making plans for long-term care helps your well-being, and it may help protect your hard-earned income.
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Create Withdrawal Plans
Traditional IRAs and employer-sponsored retirement accounts often allow contribution and investment gains to grow tax-deferred until age 73. Every year after that, you must take a required minimum distribution (RMD). RMDs not taken have 25% penalties.
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Understand Social Security Benefits
Waiting to start your benefits may mean a bigger monthly check to stabilize your finances. As you decide when to claim benefits, consider your health, marital status, financial needs and job status.
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Secure a Reliable Stream of Income
Help maintain your financial security when you retire with guaranteed payments.See note2 You can secure lifelong income and receive regular payments that fit your retirement needs by opening a Single Premium Immediate Annuity or SPIA.
Get support along your retirement journey.
Your decisions today can impact the retirement life you want later. Keep your long-term financial goals a reality and consider these options to help you achieve them:
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Deferred Annuities
Deferred annuities are long-term retirement savings that grow tax-deferred over time. When you're ready to retire, you can choose a lump sum withdrawal or payments.See note1
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Individual Retirement Accounts (IRAs)
An IRA is specifically for retirement and offers potential tax advantages. Whether you choose a traditional or Roth IRA, you can investment in a wide range of options to help your money grow faster.
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Life Insurance
Life Insurance can help give your family peace of mind when they need it the most. It can be used to replace your income, cover burial expenses, pay off debt or leave a legacy. Most importantly, it can provide security for your family's financial future.
Making Decisions Around Retirement and Social Security
Making Decisions Around Retirement and Social Security
Video Duration: 1 minute 55 seconds
Transcript Date: January 25, 2023
The importance of Social Security Elapsed Time 0 Seconds [00:00]
Hi, I'm Scott Rhiger, a retirement income specialist with USAA.
We're here to help you navigate unforeseen risks that may affect your retirement. Social Security could represent the biggest part of your retirement income. So the decision about when to start receiving these benefits is critical for many.
It's a life altering permanent decision. Yet often retirees do not seek advice from a professional.
We're here to help simplify your decision making so you can make the right choice.
Understanding your benefits Elapsed Time 31 Seconds [00:31]
First, you need to know your social security benefits. If you don't have a recent statement or online account, you can access Social Security administration website to create your personal account. You will see your estimated monthly benefit amounts at various starting ages.
Second, you need to understand how your life expectancy, age and earnings can affect your ideal strategy. Benefits can vary as much as 70% depending on your age at the time you claim them.
Key takeaways. One, estimate your Social Security benefits. Two, factor in your longevity and earnings history.
Seek help from USAA Elapsed Time 1 Minute 16 Seconds [01:16]
Finally, seek help from a retirement income specialist. Your decision about when to claim Social Security is too important to leave up the chance.
Our retirement income team is here to help. Together, we'll spend time understanding your needs, wants and wishes in your retirement years and develop a strategy to incorporate Social Security benefits into your plan.
Schedule a call on USAA.com/retirement for a time that's convenient for you or call us at 800-531-3392. Thank you.