Perhaps you have heard the phrase, more month left at the end of the money. It means simply you have more expenses than you have money to pay them at the end of the month.
Now apply that same thought to your retirement years. You may have a goal to retire at 59 years old. Assuming you are reasonably healthy, you might live to be 75.
Unfortunately, this is a real issue retires or soon to be retirees face each day. However, what if your retirement income runs out before the end of your life?
This is one of many reasons many people to work longer than they has planned and what should be your glory years turn out to be working overtime. Is there a solution?
With todays economy and the constant threat of inflation, how do you know when enough is enough? The simple solution would be to retire with enough money so it would not be a concern.
Many people have begin to consider immediate annuities to protect your assets and provide a steady income for your retirement years. What is an Immediate Annuity?
You pay a one-time premium and receive payouts based on a pre-determined interest rate and your own life expectancy. The basic definition is a contract between you and an insurance company that guarantees a rate of return for your investment.
Essentially the larger your payment the larger your monthly income. You cannot outlive the benefits of your payout and your payout is guaranteed.
The most obvious factor for most people is obtaining the highest interest rate available, but there are other important factors to consider.
Other tax deferred for example variable annuities are backed by stock market investments. Conversely fixed annuities are issued by and secured by the insurance company where the purchase is made.
The priority in you selection should be the credit worthiness of the company itself. Researching the various insurance companies and their credit ratings can help you make a wise selection when shopping for an immediate annuity.
Ultimately, financial decisions, should be made by the individuals investing the money. There are a number of retirement instruments to choose from.
There are more than enough agents promoting retirement products. Fixed annuities provide security and stability in a time when the economy is uncertain at best. Research annuities and you will be able to make an informed decision based on your own evaluations. Investing in annuities just might work for you
Todays economy makes the decisions very difficult. If you are looking for stability and guaranteed income, consider immediate annuities. Security and stability make fixed annuities a wise choice
