Joe Marullo

Joe Marullo

As we mature, our financial goals and needs change. At Joe Marullo Insurance & Retirement Services we focus on the needs of mature individuals and families. We provide solutions to the questions most frequently asked by retired or retiring individuals.

Joe Marullo Insurance & Retirement Services

16818 Doverwood Way

Houston, Texas 77058 (832) 768-3773
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By Bill Broich|

A recent article in Money Magazine ( shined a bad light on Americans planning for retirement. Health care expenses, people living longer, and the lack of company pensions create a future disaster for many Americans. How many? 40%! Health care continues to mystify many retirees who have perceived Medicare as free; the only free part is Part A. The exposure to out-of-pocket expenses is growing, and future estimates put the lifetime number of financial exposure in the multi-hundred thousands.

A report from the life insurance research board (LIMRA reports that a high percentage of retirement advisors are saying there’s an enormous fear from their clients of running out of money.

The devastating effects of living too long (the longevity crisis) and not having enough funds to maintain an anticipated quality of retirement is a real concern. LIMRA reports: The average life expectancy for a person who reaches 65 is 83 for males, 86 for females. LIMRA purports that the proper way to interpret these statistics is to assume half of all males who reach age 65 will live past 83, and half of the females who reach that age will live past 86. Half of all couples who reach age 65 will have one partner hit 90.

How will the average person entering retirement make their money last as long as they do?

In the report, LIMRA stresses that the key is education: It is up to those entering their retirement stage to fully understand their options and choices. Important retirement money must last a long time. Obtaining the necessary information to make the correct decision can be arduous and overwhelming, but so can the opposite.

One key recommendation from LIMRA suggests advisors begin to seriously discuss products with guaranteed income solutions, such as annuities, with their clients.

Annuities can provide income for any period, even a lifetime, i.e., funds can last as long as you do. If you select an annuity as your primary retirement building platform, the other concern that will raise its head is inflation. Many people choose to place a portion of their funds in an annuity (basic source of income) and other funds into an asset, which may help with inflationary issues.

Caution and education are of significant importance.

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