Retirement

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Know exactly how much money you will have going into your bank account each month. No tricks, no gimmicks. Simple retirement for the modern day human.
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Straightforward Retirement Planning for people like you and me.

Simple Retirement metrics shows you how much money you will have monthly with the ability to withdraw your money in full at any point in time. Our annuity takes five minutes to signup and get started.
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You control how much money you’ll have when you retire. The more you put into your retirement account, the more money you’ll have coming to you monthly. Need to withdraw your money, Due makes it not only get paid but if you get in a pinch, you can withdraw your money at any time. We give you a “Cashout Today” button. A couple quick verifications and you’ll have the money in a few business days.

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Retirement Guide
Learn how to retire like “a boss” by following a few simple easy but very overlooked retirement principles. Learn to retire up to 4 years early.
Savings Guide
Ever wondered how some of the richest retirees save their money. We’ll teach you some of the best tips and tricks to saving more money.

Questions about Due

How do I open a Due annuity account?

It’s pretty simple. Click the signup button, enter in all the information that we require for getting your Due retirement account all setup and then setup how much money you’d like to deposit into your account each month. Total process on average takes around ten minutes to setup.

If you have any problems setting up your Due annuity account please contact our support team and we’ll help to get you setup.

Keep in mind, we will never contact you via phone and ask for personal information. We require each person to have two-factor authentication setup in order to fund their annuity account.

Do I need a credit check to setup an Annuity Plan with Due?

When setting up your account we require all credit information but we do not perform or pull your credit.

There will be times when partners or banks that we work with will have to perform a credit check. This is required in some circumstances to open an investment account.

How does the fineprint on my annuities account work?

Great question, it’s pretty simple. We setup an account in your name and invest the money that you entrust with our company.

Due charges a monthly fee of $10. This money goes towards the management and growth of our company.

Due give 3% interest on all the money you have in the Due platform. We then invest the money and take on the risk. We guarantee you a rate of 3% on your money. You do not receive any more or any less than this amount.

Due tells you at any time how much money you’ll receive for the rest of your life. When you turn 65 years old (or a predetermined age you choose) you will receive a “deposit” into your bank account on the 1st or 15th (you can choose) of each month.

You can withdraw your money at any time. Typically if you withdraw your money before the age of 65, we require you pay a 10% penalty fee. The reason behind this is that we have your money invested in longer term investments that have large penalties for taking out your money. When we invest the money like this, it allows us to give predictable returns for our customers. Special note: Withdrawals before age 59½ may be subject to a 10% IRS penalty tax in addition to this amount.

All investments involve risks, including the possible loss of capital. While this isn’t the goal, it is a possible outcome. With that said, we invest every dollar of your money into Charles Schwab account where your money is managed by two of the top investment firms in the nation: Blackstone (NYSE: BX), and ATHOS Private Wealth. Both of which have a very good reputation.

Got additional questions, message us via support at anytime!

How much money can I contribute each month?

That really depends on you. We do not limit the amount of money that you can contribute to your annuity account each month.

Here are a few recommendations and guidelines on how much you should be investing. Note, we’re not financial advisers but want to help give you the best info possible.

1. Make sure you’re maxing out your 401k, Roth IRA, HSA Accounts and all other investment accounts that will help long term. Especially matched benefits programs like 401k before putting in money.

2. Start with a healthy amount each month. This might be $20, $200 or $1000 a month. The more you put into your account, the more you’ll get each month.

3. How much money do you need each month when you retire? Check out our annuity calculator to help you back out how much money you need to put in each month to have the appropriate amount of monthly money coming to you each month

We don’t recommend putting in more money than you can afford to invest. Don’t pull money from a credit card to put in your annuity account. Yes, there are people who have and we don’t recommend it. Don’t borrow money. If there are debts that you owe and we receive a legal notice, we will be required by law to withdraw the money from your account. This could include unpaid hospital bills, unpaid taxes, etc. All investments involve risks, including the possible loss of capital. Don’t invest more than you could afford to lose.

How easy is it to withdraw my money?

It’s pretty simple. Login to your Due annuity account and request a withdraw. You’ll have to verify a few things. This will also include a call from our customer service team to confirm the withdrawal. This can take up to five business days to fully fund.

Special note: if you withdraw before your retirement target date, you could impose up to a 10% early withdrawal fee on your money as it’s invested in long term investments and we have to pull out of those positions.

Is it better to take annuity or lump sum?

There are benefits to both a monthly annuity or a lump sum. Lets walk you through a few benefits and drawbacks to each option to help you make the best decision when you decide to retire.

A monthly annuity is a sum of money that gets deposited in your bank account each month. People like this because it’s guaranteed income (though much smaller amount) that helps you not worry about running out of money for the rest of your life. The biggest drawback is that you won’t have a bunch of money to put into a different investment that requires a lot of money.

A fixed lump sum is a great option if you’re wanting to make a large purchase like real estate or something similar, starting a business or if you’re wanting to invest the money yourself into the stock market. You could potentially gain a lot of money but do risk losing a large amount. Taxes can also be a negative factor when pulling out large sums of money from your annuity.

What are the different types of annuities?

There are many different types of annuities. Each one has their advantages. Our customers genuinely know Due as a fixed annuity program as we payout monthly, but many people can fit their type of annuity into our program.

Deferred Annuity - A deferred annuity is a form of annuity that Due offers. This is for people like me and you what want to build up a nest egg annuity before we retire. We defer our payments until a future date. In most cases when you retire at 65. Deferred annuities are very popular for people looking to have guaranteed income in the future. Some people prefer to defer these payments until they stop working which could be long into their 70’s. It’s really up to you!

Fixed Annuity - Fixed annuities are fixed interest investments issued by insurance companies like Due. These types of annuities pay guaranteed rates of interest. We find these genuinely are higher than bank CDs. In most cases you can defer income to a later date (in our case at your retirement age) or draw income immediately (if you’re wanting to get money right now. We offer both options for fixed annuities. Our customers love the guaranteed fixed investment to help them predict their retirement.


Immediate Annuity - An immediate payment annuity is very similar to a  life insurance policy. Instead of waiting years, you can deposit a large sum of money in exchange for regular income each month. This is typically invested for 12+ months before you start receiving the monthly annuity payout. You have to be comfortable sacrificing a large sum of money in your bank account for monthly money deposited into your account.

Variable Annuity -  These types of annuities are typically put into subaccounts (mutual funds). How much money the annuity is worth depends on how well the total value of the mutual fund performs over the period of time divided up all the among the accounts. If they perform bad, they will not pay out that well. Variable annuities are popular among retirees that want a little bit more than the average fixed annuity will return.


Fixed Indexed Annuity -  A fixed indexed annuity is genuinely a rate that is attached to a specific fund or something like the S&P overall performance. Fixed indexed annuities typically offer a guaranteed minimum income benefit with a small chance of an increase if the fund invested in performs above average. A huge drawback to these types of annuities is that they typically perform a little off the market and don’t gain like you would if you invested in a more risky type of annuity.

 

How much does a $100,000 annuity pay per month?

Using our annuity calculator you can find out this information. A lot of the data behind this depends on how old you are. Here are a couple quick reference points, keep in mind that they are not exact numbers as we don’t have your age:

  • If you’re 30 years old right now and you don’t deposit any more money you’ll receive $10,049 yearly. This comes out to $837 a month for the rest of your life.

    If you add $100 a month, you’ll receive $12839 yearly. This comes out to $1070 a month for the rest of your life.

    If you add $500 a month, you’ll receive $23,997 yearly. This comes out to $2000 a month for the rest of your life.

     

  • If you’re 40 years old right now and you don’t deposit any more money you’ll receive $7,477 yearly. This comes out to $623 a month for the rest of your life.

    If you add $100 a month, you’ll receive $9177 yearly. This comes out to $765 a month for the rest of your life.

    If you add $500 a month, you’ll receive $15,974 yearly. This comes out to $1331 a month for the rest of your life.

     

  • If you’re 50 years old right now and you don’t deposit any more money you’ll receive $5,564.16 yearly. This comes out to $463.68 a month for the rest of your life.

    If you add $100 a month, you’ll receive $6,572 yearly. This comes out to $548 a month for the rest of your life.

    If you add $500 a month, you’ll receive $10,003 yearly. This comes out to $834 a month for the rest of your life.

     

  • If you’re 65 years old right now and you don’t deposit any more money you’ll receive $3,678.60 yearly. This comes out to $306.55a month for the rest of your life.

     

As you can see, that number grows significantly if you start putting in $500 - $1000 a month when you’re in your 30’s and 40’s.

How long does an annuity last?

Great question. We have built our “annuity” type of a program so that it will payout money for the remainder of your life. The more money you deposit into your account, the more money you’ll get each month. 

Every annuity account in Due has the ability to cash out at any time. 

Once you start receiving monthly payments, the value of the cashout will go down each month. This will continue to go down until it reaches zero. You’ll still receive monthly money until you die despite not having anything to cash out.

Monthly money will continue to be deposited in yours and your partners account until both of you die.

If you and your legal partner die before your “lump sump” money runs out, your “dependents” will be required to withdraw the money. We do require adequate documentation. Please contact support if this is the case.

How does Due Pension work?

Due Pension is a simple retirement plan to help anyone prepare for their future. Members make a set contribution each month, and receive a guaranteed 3.5% interest rate. There are no hidden fees, just a guaranteed rate of return that makes your future stable and certain.

Do I need a credit check to setup an Annuity Plan with Due?

When setting up your account we require all credit information but we do not perform or pull your credit.

There will be times when partners or banks that we work with will have to perform a credit check. This is required in some circumstances to open an investment account.

Can my company setup a Due Pension for our employees?

Sure. Contact us to discuss setting up a corporate Due Pension plan for your employees.

Can I withdraw my Pension at any time?

Yes. You’re always in control of the money in your Due pension fund. You can pay in as much as you want and you can take out as much as you want when you want too. Because pension payments bring tax benefits though, there are fees for early withdrawal. The we charge a 10% early withdrawal fee.

How is a Pension different from an Annuity?

A pension is a retirement plan provided by an employer. The employee might make a contribution from their salary and the company could match that contribution, adding to the employee’s overall income. A pension also carries defined benefits. When the pension-holder retires, the pension plan will pay out a fixed amount each month. If the pension-holder’s funds haven’t grown sufficiently to cover the cost of the payouts, the employer makes up the difference.

An annuity is a financial product offered by insurance companies. Individuals pay monthly or in a lump sum and receive either a lump sum or regular payments over a period of time.

How many years do you get a pension?

A pension lasts throughout a pensioner’s retirement. The pension payment isn’t limited by time but by amount. The longer you and your employer have paid in, the more you’ll receive in your retirement.

The benefit of a pension is that you know exactly how much you’ll receive each year once you’ve stopped working.

What is a good pension amount?

The pension amount that’s right for you will depend on what you hope to do during your retirement, on any other savings you’ve managed to squirrel away, and any expenses you still have to pay off in the years ahead.

In general though, rather than think of a lump pension amount that you need, aim for a monthly pension payment about 120% of what you’re earning for your last paycheck at your job. This will help you to live an even more comfortable life. There are also a lot more expenses as you get older that will draw money from your bank accounts.

What is the average pension amount?

The average pension payment in the US is… usually not enough! Defined contribution payments are largely on their way out. Private companies don’t want the risk of making up the difference between the performance of the pension fund and the benefit they’ve promised to deliver, leaving pensions largely in the hands of government agencies.

The median annual pension amount is a little over $9,000 for a private pension, and just over $22,000 for a government pension.

Can I take my pension at 55 and still work?

Yes. Pensions often allow you to start taking payments from the age of 55. We allow you to take your “Pension” like program whenever you want. While the payments are likely to be lower than they would be if you took them a decade later, they can allow you to reduce your hours and move to part-time work in the last ten years of your career.

Every annuity account in Due has the ability to cash out at any time. 

Once you start receiving monthly payments, the value of the cashout will go down each month. This will continue to go down until it reaches zero. You’ll still receive monthly money until you die despite not having anything to cash out.

Monthly money will continue to be deposited in yours and your partners account until both of you die.

If you and your legal partner die before your “lump sump” money runs out, your “dependents” will be required to withdraw the money. We do require adequate documentation. Please contact support if this is the case.

Is it better to take pension or lump sum?

There’s no one answer here. You could take your lump sum, invest it, and earn a higher income than the pension company would provide. But there are no guarantees. You could also burn through the funds or lose them on the stock market.

A pension, however, delivers a set amount of money each month for the rest of your life, providing a secure foundation on which you can build the rest of your retirement. That doesn’t mean you should never take the lump sum, but the benefit of at least one secure retirement income is a factor that you need to consider.

How can I pay the least amount of taxes on my pension?

Managing your taxes is never straightforward. Managing your retirement taxes is even more complicated. The planning starts early. While we’re not tax professionals and never pretend to be, here are a few things that we’ve seen.

Pension contributions are usually pre-tax. Instead of paying tax at the higher rate levied when you were working, you can pay tax at the lower rate once you’ve retired. But those taxes are also levied on your social security benefits, a useful addition to your pension.

Single people and couples filing separately can lose as much as half of their benefits if they have a retirement income of between $25,000 and $34,000. Over $34,000 and they can lose 85% of the Social Security benefits.

It is possible though to make preparations and adjust your income to minimize your taxes. Talk to a professional tax advisor to discover how those methods might apply to you.

How does a 401k work?

A 401(k) is a kind of tax-deferred retirement plan. Employees make contributions to their plans directly from their salaries. Their companies often make matching contributions, although they’re unlikely to be 1:1 and you can expect them to be limited.

You can often choose whether to pay income tax on the money you place in your 401(k) when you earn it or when you receive it during your retirement.

If you have any problems setting up your Due annuity account please contact our support team and we’ll help to get you setup.

Keep in mind, we will never contact you via phone and ask for personal information. We require each person to have two-factor authentication setup in order to fund their annuity account.

Does Due offer a 401k program?

Yes. Due offers a fixed rate 401(k) that pays an interest rate of 3 percent. Place your funds in your Due 401(k) and you’ll know exactly how much you’ll receive when you’re ready to retire.

What is the difference between a 401k and a Pension Plan?

A pension plan is a kind of retirement fund provided by an employer and offering defined benefits. The recipient of a pension knows exactly how much income they’ll receive each month when they retire.

If their pension contributions have failed to earn enough to cover those benefits, the employer must make up the difference. Because all the risk of pensions fall on the employer, pensions are now rare outside the public sector.

Is a 401k or a pension plan better?

Both 401(k)s and pension plans have advantages and disadvantages. Both are good ways to plan a financial future and neither can be said to be better than the other. 


In general, if your employer offers a pension, it’s usually worth taking but a retirement plan often includes a mixture of different financial vehicles including 401(k)s, annuities, and a pension if possible.


401ks are provided by employers are likely to be invested in mutual funds or exchange-traded funds. While annuities are often funded with post-tax money, annuities are more likely to be funded with pre-tax funds.

Can an Individual invest in their own 401k program?

401(k) plans are usually provided by employers but it is possible to create a Solo 401(k). They’re aimed at business owners that have no employees, and they can be both traditional (with contributions made before tax), and Roth 401ks (with contributions made after tax).

If you’d like to create one, you’ll need to become a small business owner and create a business.

Can you lose money in a 401k?

The money you place in your 401(k) is invested in mutual bonds and other financial assets. Like any financial asset, they can lose value. The market can fall, costing some or even all of the gains made in previous years.

Your 401(k) can go up and it can go down. At Due, we take that risk for you. However the market performs, we’ll pay you 3.5% each year. If the market performs better, we keep the excess as our management fee and use it to cover the years when the market grows at a rate slower rate.

A monthly annuity is a sum of money that gets deposited in your bank account each month. People like this because it’s guaranteed income (though much smaller amount) that helps you not worry about running out of money for the rest of your life. The biggest drawback is that you won’t have a bunch of money to put into a different investment that requires a lot of money.

A fixed lump sum is a great option if you’re wanting to make a large purchase like real estate or something similar, starting a business or if you’re wanting to invest the money yourself into the stock market. You could potentially gain a lot of money but do risk losing a large amount. Taxes can also be a negative factor when pulling out large sums of money from your annuity.

What happens to my 401k if I lose my job?

Should you lose your job, contributions that you’ve already placed in your 401(k) from your salary remains yours. The matching contributions from your employer might have vesting requirements: you’ll need to have worked at the company for a set number of years before you can claim ownership of the funds.

You might find that you’re liable for management fees that the company covers for its employees and you can no longer borrow from your 401(k).

But you don’t have to leave the 401(k) with your former employer. You can decide to roll it into your new employer’s 401(k), move it into an IRA, or even cash it in, although there may be some additional fees.

How much should you put in 401K?

In general, you should try to put between 10% and 15% of your income in your 401(k). You should also aim to max out your company’s matching contributions. That might not be money that you can spend now but it is money that will be available to you in the future.

Fail to put enough into your 401(k) to obtain all of the company’s matching contributions, and you’re effectively giving yourself a pay cut.

Can I contribute 100% of my salary to my 401K?

No. The most you can place in a 401(k) each year is $19,500 for 2021, or $26,000 for people over the age of 50. Because 401(k) payments are usually made before tax, placing all of your income in a 401(k) would defer all of your income tax.

What is a reasonable amount of money to retire with?

Ideally, you want to retire with as much money as possible. At a minimum, you want to retire with enough money to live the way you’ve always lived and to enjoy all of the activities you’ve been putting off: to take cruises; to visit family; to buy an RV and disappear across the country.

In general, financial experts suggest that you should have saved ten times your last salary. So if you’re earning $75,000 in your last year of work, you should have put away $750,000 in your pension pot.

Another approach is the 4% Rule. The idea is that you should be able to live on 4% of your retirement savings each year. To find out how much savings you need, add up your current annual expenditure and multiply by 25. So if you spend $50,000 each year, you’d need $1.25 million in your pension to pot to continue spending at that rate.

What are the different types of retirement?

The finance industry offers a wide range of tools to help people fund their retirement.

Traditional Individual Retirement Arrangements (IRAs) are accounts which the owner funds themselves. They aren’t available through an employer but they do let you defer income tax on contributions until the distribution phase. Roth IRAs are similar but let you pay income before you make the contribution, ensuring that your pension is tax-free.

401(k) plans are sponsored by employers. They allow you to make contributions on a tax-deferred basis but employers can make matching contributions. They also remain with the employer unless you leave the company, when you can choose to roll your funds into your new employer’s 401(k) plan. Solo 401(k) plans are for people who are self-employed, with contributions that are tax-deductible. 

Those are the main types of retirement plans but there are others, including: Simple IRA plans, which let employers contribute 2% of an employer’s salary whether or not the employee makes their own payments; Simplified Employee Pensions are for small businesses, and allow employers to make tax-deductible contributions with a higher contribution limit than IRAs; Defined Benefit plans, or pensions, enable employees to receive a set income for life regardless of the performance of their pension plan.
In short, there are many different ways to fund a retirement plan depending on your employment status and tax liability.

What is the right retirement age?

For many people, the right retirement age is “as soon as possible.” For most people, it won’t be before 59.5, which is when you can start taking distributions without a penalty. At 62, you can begin taking social security, and between the ages of 66 and 67 you’ll reach your full retirement age. At 70.5, you must start receiving distributions from any pre-tax retirement plans.

So each age has its own advantages and disadvantages. Putting off taking Social Security until you’re 70 will add 8% to your distributions for each year you delay but will cost you up to eight years of contributions that you could have received.

The consequence of those complications is that there is no one right retirement age. You’ll have to pick the right time based on your financial situation, your employment status, and your health.

Can I open a retirement account for myself?

Yes. If your employer doesn’t offer a retirement plan, if you’re self-employed, or if you just want to add another retirement fund for your future, you can create your own retirement account. You can open a Solo 401(k), which would allow you as an employer to match the contributions that you make as an employee.

You can also create your own IRAs, both Roth and traditional. You really can take control over your own retirement account!

How do I fund my retirement?

Funding your retirement requires making regular contributions to your retirement fund. You should be able to do that on a tax-preferred basis. If you believe you’ll be in a lower income tax bracket after you’ve retired, you can put off paying taxes on your contributions until you’ve stopped working. But you have to make the payments. You have to do it every month, and you have to leave the money untouched until you’re ready to retire.

If you have a 401(k) from your employer, make sure that you’re taking all of the matching funds available—even if that means that you have to put more in yourself. Fail to take everything that the employer is willing to invest for you, and you’ll just be leaving money on the table.

You can also open your own IRA, and if you’re over 50, you can make the most of catch-up payments. They let you add more money to your retirement funds on a tax-deferred basis. You’ll get to fund your retirement and reduce your tax bill.

What are the five stages of retirement?

Retirement should be a time to celebrate. It’s a chance to do all of the things you’ve always wanted to do but were too busy to fit into your schedule. Now you can burn the schedule and fill your calendar with cruises and shows and time with the grandchildren. But it’s also a change. It’s the end of your career and the start of a whole new way of life. The adjustment takes time, and it happens in stages.

The first stage is a kind of pre-retirement. This is when you start thinking about what you’ll do after you’ve retired. You check your finances and review your interests. You take stock, accept your achievements, make peace with the things you haven’t done, and start planning all the places you’ll go once you don’t have to commute to work.

The second stage is the first year or two of the retirement itself. This is the best moment of your retirement. You’ll feel relieved, excited, and liberated. You’ll see friends, take up new hobbies, and have a thoroughly wonderful time.

In the third phase, you start to feel disillusionment. You’ve reconnected with everyone you wanted to meet again. Your golf swing still hasn’t improved. The garden is as nice as it’s going to look. You’ve crossed off the top places on your travel list. Now you’re starting to feel a little bored.

The fourth phase involves reorientation. This is when you realize that you’ve done what you wanted to do and you’re now a pensioner. It’s a new way of living and it requires taking on a new identity and a new attitude.

Finally, the last period is one of stability. You’ve built a new routine. You’re comfortable with what you’re doing. The only concern is health but as long as that remains stable, you’ll be able to enjoy your remaining years.

Can I retire at 55 with 300K?

Probably not. At the age of 55, you won’t be eligible for Social Security so you’ll be entirely dependent on that $300,000.

If you apply the 4% rule, you’ll have an income of just $12,000 a year. If you can live on $1,000 a month, perhaps by moving to a place with a very low cost of living, then you can retire. More realistically though, you’ll have to top up that income with at least part-time work.

Something to think about is that inflation is around 2% each year. So after 10 years, that same $1000 you have every month will be the equivalent of $800 a month. After 20 more years, it’s gone down significantly. Think of the long term when making these decisions.

How much does the average American have in savings?

The amount of savings held by Americans varies considerably by age of course, but also by education and race. Overall, according to a 2016 survey by the Federal Reserve, the average American family had about $40,000 in liquid savings.  

People aged between 55 and 64 averaged $57,200, rising to $67,700 for people aged between 65 and 74. People with a college degree have about $85,600 in savings, compared to $16,700 for people with only a high school diploma.  

It pays to get an education and it pays to spend less than you earn.

How much cash should I keep in the bank?

The money that you keep in the bank is your emergency reserve. It’s the money you need to tide you over if you lose your job or need to pay for a sudden emergency. The amount that experts recommend that you keep on tap varies considerably. Some say that you should keep as much as eight months of expenses close to hand. If your living expenses are $5,000 a month, you’ll need $40,000 in your checking and savings account.

Other experts, though, say that you can make do with as little as three months, and some say none at all if you’re debt-free and have other assets that you can tap.

The point is that keeping money in the bank keeps it liquid and accessible but at the cost of low growth. Aim for somewhere between three and eight months of living expenses but make sure that you’re getting as much interest as accessibility can give you.

Where do millionaires keep their money?

Millionaires don’t actually keep their money in gold bullion stored in a safe carefully hidden behind a painting on a wall. Despite what many people may think

Much of their money is in bricks and mortar. It will be in their primary residence, in their vacation home, or in rental properties. Some of their funds will be in the stock market and much of it will be in retirement funds which have allowed them to stash money away for the future and reduce their tax bill.

Move past $10+ millionaires though, and a greater share of their wealth will be in the value of their businesses. That’s money that’s hard to move but has plenty of potential for growth.

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