8 Reasons Why Annuities Should Be In Your Retirement Plan
You’ve spent years working, saving and envisioning what your retirement will look like. The key to a solid retirement plan is having confidence that you are investing in a product that is meeting your needs. Specifically, you need a product that allows you to get the most out of your retirement dollars while protecting your investment. An annuity is that product. Let’s discover why.
Here are eight reasons to feel confident incorporating an annuity into your retirement plan:
Drive growth with competitive rates
Annuities offer substantially greater return potential than the average traditional CD, savings or money market account.
Build more wealth with tax deferral
One of the greatest advantages of annuities is the ability to defer paying taxes on earnings year after year. As your annual earnings continue to compound, you will create more wealth inside the annuity than you would see with a typical bank account.
Create a guaranteed income stream that can’t be outlived
Annuities were created to provide you income in retirement. Depending on the payout option selected, you are guaranteed an income stream for either a specific period of time or for as long as you live.
Protect your retirement savings
Fixed annuities and fixed indexed annuities guarantee that your retirement savings will be protected. You can rest assured that you will not lose any money due to market fluctuations.
Access your funds
In the event of an emergency, annuities offer options to receive a portion of your account value free from charges or penalties.
Plan for long-term care concerns
52% of us will experience a long-term care event. Annuities with long-term care benefits ensure that you will receive additional income when you and your loved ones need it the most.
Leave a legacy
Annuities allow you to continue to take care of loved ones, even after you pass. At death, the account value will be passed to your beneficiaries over several payout options.
Avoid probate
Probate is an expensive and drawn-out process that can reduce the amount your beneficiaries will receive and delay the distribution of your estate. Annuities bypass probate, ensuring your loved ones receive distributions immediately.
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An annuity is the only investment product that can provide a guaranteed income stream for life.
You’ve worked hard for retirement and deserve to have confidence in your retirement plan. With an annuity, you can rest assured that your retirement dollars are working hard for you and your loved ones.