When you get started on the course of wanting to buy an annuity to help yourself achieve some form of guaranteed income for life and also protect your loved ones, it’s important to know the problems and concerns about annuities and any financial plan that you may make. After all, the future is never certain.…
With any type of financial product, there is always a chance that there are fees, and very high fees can eliminate almost any benefit to using the product. Keep in mind when reading this that every annuity contract is different. You are contracting with the insurance company for this annuity, so make sure you understand…
Finding the right advisor or agent to sell you an annuity is going to make all the difference to your success. Understand that anyone who can pass a test to sell insurance can sell most types of annuities. They may have zero understanding of household finance, retirement needs, or much of anything about money. They…
When it comes to financial planning, you probably hear a lot of comments from friends and family alike, giving their two cents about different financial investments. Sadly, many people tend to downplay annuities and their importance as a safe and secure income-generating retirement plan. Let’s look at some common myths about annuities. 1. Annuities Are…
Many people want to set themselves or their family members up to have an income for life that cannot be taken away. One of the ways that they do that is by setting up an annuity. An annuity is a periodic payment that you either receive or that you pay into. A couple of things…
Annuities are periodic payments paid to you, usually on a monthly basis and often for life. They can be left to your loved one in the event of your death. Once fully funded, the annuity pays a set amount each month for either the life of the contract or your life. The remaining funds can…
As you start your research about annuities as a form of retirement investing, many questions come up. These are some common questions that you should ask about annuities before you even think of buying one. * When Should I Buy an Annuity? – The most common time to buy an annuity is sometime after age…
When you are planning your retirement, there are many investment opportunities to help you ensure an income after you stop working. One type of investment is called an annuity. This type of investment is usually purchased either in a lump sum or via an investment plan where you put money into the annuity over time…
An annuity is simply a “series of payments made at equal intervals.” That means that your mortgage, insurance, savings, and pension are all annuities. Mostly what makes something an annuity is the regularity of the payments. But the kind of annuity we are talking about here is the kind of long-term investment where you pay…
An annuity is a set monthly payment from an investment that usually pays for the remainder of your life. When you receive the payment, you only pay ordinary income tax on the earnings portion of your payout each month. Your monthly payment depends on a variety of factors, such as when you invested the money,…