Social Security will see no cost-of-living adjustment for 2011

Dec 21, 2010

Having a happy retirement may involve pursuing a number of investment options.

Older consumers may rely on a number of income sources as they get older, including Social Security and certain life insurance products.

Financial experts often note having only one source of income during the retirement years is not the soundest of strategies. For example, the Social Security Administration noted next year will not see a cost-of-living adjustment applied to payments, as the Consumer Price Index does not warrant it.

While Social Security may be able to help pay for some expenses, consumers will probably want another source of income to help supplement benefits from the government. For example, an annuity from a life insurance company may be one option, although this investment opportunity does present a number of options.

One is a fixed-rate annuity, which presents less risk than other alternatives. However, with that lower chance for losing money also comes a reduced return rate.

Consumers who are looking to make a greater return on their investment may consider a variable-rate life insurance annuity. While these present higher money-making potential, they are also tied to riskier investments, such as the stock market.

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