Creating a diverse retirement income strategy is vital to help ensure retirees have enough money to last throughout their entire life. One solution that can make this guaranteed lifetime income is a fixed index annuity.
Tax deferrals that most IRAs, retirement and profit-sharing plans are afforded don’t last forever. Whether you’re ready for retirement income or not, IRS rules require that you start drawing down your savings from certain types of accounts when you reach a certain age.
Annuities are often misunderstood. Many people may find them difficult to understand and navigate these insurance products due to misinformation, rumors, and myths. As a result, many individuals are put off from the idea of purchasing an annuity.
Creating a retirement plan is now more critical than ever. Including an annuity as part of your overall financial strategy can help you grow and protect your retirement savings while providing income for the future. Let’s look at the different types of annuities and the benefits they can provide as you prepare for retirement.
Living comfortably as a retiree is a top priority for many workers as they save and strategize for the future. When creating a retirement income plan, you have many opportunities to build your savings and ensure you have the money you need for planned and unexpected expenses. One of these opportunities is an annuity.