When planning for retirement, annuities can be critical to your strategy. They can provide a guaranteed stream of monthly payments that’ll last the rest of your life. Even though annuities may come in all shapes and sizes, here are some potential benefits they can offer:

  • A lifetime payout that you can’t outlive, regardless of how long you live or what happens in the stock market
  • Generally greater payouts than what you can expect from other investments such as certificates of deposit, money market accounts or bonds.1
  • The ability to take more risk and potentially get better returns.
  • Tax-deferred growth and compounding until you begin to withdraw the income.
  • There are no annual contribution limits, allowing you to put away more money for your retirement.2
  • They’re exempt from probate, which allows you to leave a cash inheritance for your beneficiaries.

Annuities can play a significant role in your retirement and financial future especially when Social Security and pension payments may not be sufficient to cover your basic living expenses. Interested in learning more? Give us a call and we can help you decide whether it’s right for your personal situation.

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This document is for educational purposes only and should not be construed as legal or tax advice. One should consult a legal or tax professional regarding their own personal situation. Any comments regarding safe and secure investments and guaranteed income streams refer only to fixed insurance products offered by an insurance company. They do not refer in any way to securities or investment advisory products Insurance policy applications are vetted through an underwriting process set forth by the issuing insurance company. Some applications may not be accepted based upon adverse underwriting results.  Death benefit payouts are based upon the claims paying ability of the issuing insurance company. The firm providing this document is not affiliated with the Social Security Administration or any other government entity.

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[1] https://money.com/a-retirement-expert-says-annuities-are-better-than-bonds-for-guaranteed-income-heres-his-argument
[2] https://www.balancepro.net/education/publications/annuitiesproscons.html