Annuities Help Purchasers Prepare for Unknown
When an individual is no longer able to work they will need some sort of income in order to continue their lifestyle. The insurance world offers a wealth of opportunities for anyone interested to mature into their golden years with financial security. Funding a retirement fund should start early in life with the unpredictability of employment and 401(k) and pension plans known for being slashed without a moment’s notice.
According to an article recently published on InsuranceAgents.com, an annuity is a great way to guarantee income into your retirement years. “Purchasing an annuity is a personal investment that, if done right, can yield big returns just when you need it most,” states the article. “However, retirement funds should be multiple and varied. You don’t want to depend entirely on an annuity although it might be your most profitable venture.”
An annuity is designed to fund retirement and reinforce retirement funds by:
• Providing guaranteed, regular income for an individual after retirement.
• The ability to build cash value over time depending on which annuity is purchased.
• There are no limits like there are on a 401(k) and other retirement accounts.
• The annuity holder has the power to defer taxes which allows the annuity to build value faster.
It should be noted that there are many options within annuities as far as specific types are concerned. Talk to a financial professional or life insurance agent today about all the different types of annuities as well as other retirement fund options like the 401(k), the IRA, and the pension plan.
For further information, visit InsuranceAgents.com.
Staff contribution: Kyle Fitzsimmons
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