Ready for Retirement? Look at Annuities
Ready for Retirement? Look at Annuities
The average life expectancy in the U.S. continues to increase - with the Population Reference Bureau predicting that by 2010, more than 6 million Americans will be 85 and older. So, it's becoming increasingly common for Americans to live 20, even 30 years past retirement. That means that without the right planning you could be at risk of outliving your assets.
Financial professionals say (investing in) an annuity can help ensure your assets live as long as you do. That's because annuities allow you to save and increase your money on a tax-deferred basis - providing you with payments during your retirement years. Other retirement plans have their deficiencies - 401ks limit the amount you can contribute, the average social security check is less than $900 a month, and over time inflation and taxes can eat away at your savings.
As with most investments, you have options if you choose annuities. A fixed annuity means a company invests the money for you and gives you a rate of return that is guaranteed. A variable annuity a company takes the money and you choose where you'd like it invested. While variable annuities depend on stock market performance and involve greater risk, they also offer the potential for higher returns.
The average life expectancy in the U.S. continues to increase - with the Population Reference Bureau predicting that by 2010, more than 6 million Americans will be 85 and older. So, it's becoming increasingly common for Americans to live 20, even 30 years past retirement. That means that without the right planning you could be at risk of outliving your assets.
Financial professionals say (investing in) an annuity can help ensure your assets live as long as you do. That's because annuities allow you to save and increase your money on a tax-deferred basis - providing you with payments during your retirement years. Other retirement plans have their deficiencies - 401ks limit the amount you can contribute, the average social security check is less than $900 a month, and over time inflation and taxes can eat away at your savings.
As with most investments, you have options if you choose annuities. A fixed annuity means a company invests the money for you and gives you a rate of return that is guaranteed. A variable annuity a company takes the money and you choose where you'd like it invested. While variable annuities depend on stock market performance and involve greater risk, they also offer the potential for higher returns.
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