Planning for income strategies is not just for the super wealthy. All soon to be retirees need to build an effective plan that accounts for their lifestyle, future wishes, and endeavors. Preparing for bumps in the road that come with growing older is another key factor in planning on income to last you throughout retirement. Fixed-income products provide steady lifetime income and can be used to ensure safety in your income and retirement investments. People are living longer… are you prepared to fund 25-30 years of retirement income?
Annuities are arguably the most common, most utilized products available to consumers today for guaranteed income. However, many investors have no idea that there are actually a variety of annuities available to them.
So, what exactly is an annuity? According to the dictionary, an annuity is an amount of money that is systematically paid to a person for a specified period of time, often for the rest of his or her life. Essentially, an annuity is just a good old-fashioned income stream. Today there are a variety of different types of annuities available to consumers, and it’s often likely that it would make sense for you to have at least one of them in your overall retirement plan.
*Guarantees are based solely on the financial strength and claim-paying ability of the issuing company and compliance with product requirements.