How Fixed Deferred Annuities Can Complete Your Retirement Income Strategy
Most fixed annuities are designed to provide safety and secure your assets and income for retirement. When financial markets are tanking, whether in the short or long term, these annuities provide guaranteed stability along with tax advantages.
Annuities are simply accumulation or income vehicles sold and guaranteed by insurance companies. They fall into two camps: deferred annuities with cash value that let your money grow tax-deferred and income annuities that have no cash value but guarantee a stream of current or future income.
How can you decide if an annuity is right for you? And if it is, what type(s) make the most sense? Here are some guidelines and questions to ask yourself.
Key questions
Start with taking a close look at your current financial situation and where you want to go. If you’re working, estimate your income needs in retirement. (If you’re
