Annuities Can Help Provide You With Guaranteed Income for Life
Having a sizable savings account is important as you enter retirement. But when it comes to creating income for your retirement, you may want to consider putting a portion of your money into a more active role through annuities. Instead of accruing interest at a minimal rate, you can put your money to work generating lifelong income.
What Are Annuities?
Annuities are a type of retirement income offered through insurance companies. By entering into an annuity contract, you agree to make payments to an insurance company. That company will invest those funds, and in turn, offer you a set amount of distributed payments once you have reached a predetermined age.
How Do I Know I’m Choosing the Right Insurance Company to Invest in?
Creating a guaranteed income can sound too good to be true. And if you aren’t careful in who you choose to invest with – it often can be. That’s why you need a partner who is experienced in annuities and their effect on retirement income planning to help lead the way. Together we’ll evaluate the important details that surround annuity types, fees and payouts to ensure you’re comfortable with the solutions we present.
Reduce Risk and Establish Stability Throughout Retirement
Your retirement plan likely includes a diverse mix of stocks, bonds and cash. But, when it comes to important qualities of your retirement plan, you need to focus on stability and sustainability. Whether it’s outliving your savings account or succumbing to a downturn in the market, these other sources of income are almost always at risk. By incorporating annuities into your retirement plan, you’re providing yourself with a steady, guaranteed income designed to last your lifetime.