If you’re looking into finance options for the future, you may be considering an annuity. They’re an excellent way to make sure that you’re provided for in the future, and you’re using your money wisely. If you’re interested in an annuity, then it’s essential that you speak with the right professionals. They’ll be able to point you in the right direction and make sure that you have all the information you need.
Annuities are an excellent way to deal with your money in retirement. Many people feel conflicted about all the different options available during retirement.
Types of Annuities
There are four different types of annuities. It’s important that you’re aware of all the different options so that you can select the one that works best for you. Let’s go over the four different types and discuss what differentiates them from one another.
Immediate Annuity
Immediate annuities are a great option if you aren’t anticipating needing large amounts of money in the future. This is a great choice if you’re looking for stability and want to know the exact amount of money you’ll be getting in each payment.
Deferred Annuity
A deferred annuity might be the right choice for you if you do not want to be paid immediately. This type of annuity doesn’t have a limit on how much money you can put into it, so it’s a great option if you’re looking to contribute a large sum. You also won’t have to pay taxes until you take money out.
Fixed Annuity
Fixed annuities provide an interest rate that the individual will gain on their investment. If you want predictability, then this could be a great option. It’s one of the best choices for those who want simplicity and as little complication as possible.
Variable Annuity
Variable annuities allow investment into sub-accounts. These sub-accounts can fluctuate with the market, so that’s important to keep in mind. If you’re willing to take some risk, then this might be the annuity for you.
Interested in Learning More?
Annuities can be complicated to understand, and we get that. It’s important to do some research and get to know the different available options. However, before you do this, you should consider your financial goals. This will allow you to make decisions that align with your interests.
At Secure Insurance Group, we’re here to provide advice and guidance. We understand how important financial decisions are, so we constantly work to provide our clients with the highest level of service. If you’re ready to take your financial decisions to the next step, make an appointment to speak with a member of our team today.
