My grandfather worked in the Augusta paper mill for thirty-five years, often times working seven days a week. He, like many other Americans, put in his time. In return, he retired with a healthy pension. Every month, a check shows up in his mailbox, just like clockwork. Do you think he notices the financial security this check brings? He sure does!

Let's talk about pensions for a moment. Where are they now and in which direction are they going? For the most part, they are taking a vacation ... and I think it will be a long one.

Most people I meet with today from the private sector will not have a pension in retirement. This leaves many people concerned about whether or not they will have enough money to live on each month.

Although your current/former employer may not offer a pension, you can create guaranteed lifetime income with a private annuity from a major U.S. insurance carrier. Funds from IRAs, 401(k)s, 403(b)s, Thrift Savings Plans, CDs from the bank, etc., can all be used to create this kind of financial security.

Ask your advisor today about whether or not an annuity is right for you.

Jac M. Arbour, CFP®, ChFC®