As people more towards their retirement age, the necessity to keep a sensible level of income during their retirement turns into an actual anxiety. It happens that one requires a sensible and stable stream of income if they are to keep the standard of life they had been familiar to during their working years. Moreover, as the healthcare costs tend to increase with age, there is every probability that one may actually require a higher income during their retirement than they did all through their working years.
Types of annuities:
Among the different types of investment options that are available, annuities can provide you with extra savings, retirement income or a legacy for your loved ones. There are three different annuity types: fixed, variable, and indexed annuities. All these annuities work in different ways. If you are considering buying an annuity, it is vital to understand how the various types of annuities are controlled.
Definition of annuities:
A fixed annuity indicates that the rate of interest is definite. The variable annuity payouts are based on the basic investment vehicle’s performance. An indexed annuity is designed to emulate the performance of a financial index. Among all these annuities, fixed annuities involve less risk and are preferred among retirees.
If you are looking forward to a worthy investment choice that will help you to earn big; then annuities are the best options available. This way your plays can be utilized for additional income in retirement, definite financial freedom or as a financial legacy. An annuity can aid you to carry on living peacefully even when you are old.
Why choose fixed annuity?
Andrew Corbman, a famous financial advisor, and investment broker has vast expertise in fixed annuity. He teaches clients on the significance of fixed index annuities and what they can offer during the lifespan of the client. Andrew also guides clients on how fixed index annuities can be useful to their complete plans, motivating them to invest in fixed annuities and to make the maximum of social security benefits and options to guarantee financial safety and freedom long after they have left work.
Listed below are some of the advantages of buying fixed annuity:
- If you want a safe way to increase your money; then fixed annuity is the best option available. It is safer than a bond or shares in bond fund.
- It can be converted to a retirement income stream.
- As long as you do not make any withdrawals you are sure to get stable rates
- You can defer tax with fixed annuity
Thus, the suitability and certainty of a fixed payout make a fixed annuity a standard option for retired persons who want a common earning flow to complement their other retirement earnings.
Andrew Corbman is the owner of ASC Financial, Inc. which helps the clients to ensure their future by planning for tomorrow. The company offers services such as social security exploration, legacy planning concepts and retirement strategies for the clients who want to become financially independent.