Planning for retirement can be daunting, but annuities offer a reliable way to ensure a stable income stream during your golden years. Here’s a quick overview to help you understand the basics:
What Are Annuities?
An annuity is a financial product where you invest a lump sum or make periodic payments in exchange for regular income payments in the future. They’re designed to provide financial security during retirement.
Types of Annuities
- Fixed Annuities: Provide guaranteed, steady payments.
- Variable Annuities: Payments vary based on investment performance.
- Indexed Annuities: Linked to a market index for balanced growth potential.
- Immediate Annuities: Start payments almost immediately after investment.
- Deferred Annuities: Payments begin at a future date, often in retirement.
Benefits of Annuities
- Guaranteed Income: Ensures a steady income stream.
- Tax-Deferred Growth: Investments grow tax-deferred until you receive payments.
- Flexibility: Customizable to fit your financial needs.
- Longevity Protection: Provides income for life, reducing the risk of outliving your savings.
Join Our Webinar on Wednesday, September 25 on Annuities
Want to learn more about how annuities can secure your financial future? Join our upcoming webinar! Our experts will dive deeper into the different types of annuities, their benefits, and how they can fit into your retirement plan.
Date: Wednesday, September 25, 2024
Time: 12 pm
Register Here
Don’t miss this opportunity to get all your questions answered and plan for a worry-free retirement.
Category: Financial Literacy & Safety
