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If the cost of living seems high now, think what it will
be in 20 or even 30 years when you're retired or hoping to retire. Plan
now to ensure your assets last throughout your lifetime. Under an annuity
contract, you make a payment - or series of payments - and in exchange we
pay you an income while you're alive (unlike life insurance which pays out
after death).
However, the real benefits of fixed annuities come in the
form of safety of principal and a guaranteed interest rate for a certain
time period.
With a fixed annuity, you'll know how much you'll be
earning. Plus you'll have:
- No cap on the amount you can invest each year;
- A guaranteed fixed rate of return; and
- Tax-deferred earnings on interest.
- In addition, you can postpone initial withdrawals beyond age 70
½.
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