Americans are saving more these days. Especially millennials. We know why to save: For emergencies, for retirement, to afford big-ticket dreams like home ownership or opening a business. But how to save is another matter.
Great-aunt Sally used to stash her money under the mattress. Thankfully, the FDIC and waterbeds put an end to that. So what are the best ways today to protect and grow your savings? How can you sleep better tonight and have greater financial confidence in the morning? See if any of these scenarios sound familiar.
“MY RECURRING NIGHTMARE: I HAVE TO WORK UNTIL I’M 90 YEARS OLD.”
Retirement should be a time to enjoy the life you imagined, and annuities that grow tax deferred can create a guaranteed fixed stream of income for life. The payout is partly cost basis and partly gains. The gains portion of the income is taxed.
“NOTHING BOTHERS ME. I SLEEP LIKE A BABY.”
The stock market can be a good bet, especially for younger investors. Your funds will fluctuate, but over the long term, may provide an average annual return in the 10 percent range. Index funds—a cross-section of the stock market—can help you build a diverse, less risky portfolio.
“AT 3 AM, I’M AWAKE WORRYING ABOUT THE KIDS’ EDUCATION.”
Besides the important guaranteed death benefit a whole life insurance policy provides, it also offers tax-deferred accumulation of cash value through dividends .,  In addition, a whole life policy allows access to cash, tax free, throughout your lifetime to help realize your dreams—like college for the kids—or to supplement your income during retirement.
“I CHECK TWICE THAT DOORS ARE LOCKED BEFORE TURNING IN.”
Along with stocks and other investments, bonds are key to a balanced portfolio. They help reduce exposure to market risk, especially as your age increases and risk-tolerance diminishes.
“I’M ON THE ROAD SO MUCH I FORGET WHAT MY OWN BED FEELS LIKE.”
You work hard for your money. A retirement account makes your money work hard for you. With a 401(k) retirement plan, you invest pre-tax dollars and your employer may even match your contribution. A Roth IRA can be ideal for young professionals. You’re taxed on the money you invest, but can withdraw your earnings tax-free in retirement, a time when your tax rate is likely to be much higher.
Investing for maximum growth and minimum risk takes planning. And it depends on many variables—your age, family circumstances, lifestyle, goals and priorities, and income level, to name a few. A financial professional can help you make sense of the possibilities and put together a plan to realize your dreams.
Brought to you by The Guardian Network © 2018. The Guardian Life Insurance Company of America®, New York, NY
2018-63311 Exp. 07/2020
 https://www.cnbc.com/2018/02/23/americans-are-better-at-saving-58-percent-have- more-money-than-they-owe.html
 All annuity guarantees are based on the claims paying ability of the insurance company.  https://www.nerdwallet.com/blog/investing/average-stock-market-return/
 All whole life policy guarantees are based on the payment of all required premiums and the claims paying ability of the issuing insurance company.
 Dividends are not guaranteed. They are declared annually by Guardian’s Board of Directors.
 Policy benefits are reduced by any outstanding loan or loan interest and/or withdrawals. Dividends, if any, are affected by policy loans and loan interest. Withdrawals above the cost basis may result in taxable ordinary income. If the policy lapses, or is surrendered, any outstanding loans considered gain in the policy may be subject to ordinary income taxes. If the policy is a Modified Endowment Contract (MEC), loans are treated like withdrawals, but as gain first, subject to ordinary income taxes. If the policyowner is under 59 1⁄2, any taxable withdrawal may also be subject to a 10% federal tax penalty.
 https://www.irs.gov/newsroom/irs-announces-2018-pension-plan-limitations-401k- contribution-limit-increases-to-18500-for-2018
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