When you sign up for a retirement financial planning workshop, one of the most important types of investments you will likely learn about is an annuity. Is it right for everyone? Perhaps not, but for many people who need to start seriously considering their retirement, an annuity can provide an exceptional option.
How Annuities Can Work for You
When you enroll in a retirement financial planning seminar, you will learn much more about what an annuity is. In a nutshell, individuals pay money into an annuity over a period of time. Then, you get funds paid back to you under a fixed plan. A good way to look at an annuity is as a type of guaranteed payment.
Why Are They Beneficial to You?
Many people benefit from annuities because of this, but there are some key reasons to take a closer look. For example, it does not matter what happens with interest rates. In situations where the economic climate isn’t ideal, annuities can also be beneficial. These are the most difficult obstacles to plan for in retirement planning as a whole. Yet, with an annuity, much of that risk is eliminated.
Another key benefit is that you cannot outlive them. Many men and women worry about how much they need to put away for retirement. They plan to work for years into what they thought would be their retirement years just to have enough put away. Running out of funds in a traditional 401k or IRA is not uncommon. This doesn’t happen with an annuity. It is not possible out outlive the annuity.
They Offer Flexibility for Your Needs
Many Americans are approaching age 50 without a lot of money in the bank. Many others have some, but nowhere near what they think is enough. One of the nice benefits of an annuity is that you can start now – you do not have to feel like you are behind – and you can begin to see immediate or deferred payments. That is, if you are still working or not ready to start receiving payments, you can defer them. When you do, you get a larger payout later.
With a fixed rate, you also do not have to worry about the risks associated with changing circumstances or unpredictable investments. If you’ve invested in the stock market for years, this may sound like a very good thing right now. Unlike other types of investments, there’s a bit more security in place here.
It’s important to know that an annuity may not be ideal for some people. That is why it is so important for you to learn as much as you can about how they can work for you.
At Fortified Retirement, we aim to help you explore the benefits and opportunities that the right annuity can offer to you. We encourage you to give us a call today to discuss how well an annuity can fit into your retirement or investment plans. Our retirement planning seminars can offer you the insight you need today.
Licensed Insurance Professional. Provides general information about insurance and retirement-related products and services. These products and services may not be specific to a particular state. Information provided on this website, in seminars or through printed or other published materials are not intended as specific legal, accounting or investment advice to an individual’s particular situation. By providing your information to us, you agree that we may contact you regarding the potential sale of annuity and/or insurance products. Information provided by Licensed Insurance Professional does not necessarily represent that of the individual professionals presenting this information. All the information presented is believed to be accurate and is secured from reliable resources, however, no guarantee is made to the completeness or accuracy of the information presented. Any opinions expressed are those of the author and the material presented is for educational and informational purposes only and is not intended as legal, investment or tax-related advice.
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