When it comes to planning for retirement, a wide variety of annuity options exist that could help provide steady income. However, to truly make the most of these financial products, it’s important to understand how annuities work.
Incorporating an annuity into a comprehensive financial strategy can help grow and protect retirement savings while securing a steady income stream for the future.
When it comes to saving for retirement, there are numerous strategies available, each offering their own advantages depending on your financial goals and risk tolerance. Two common options are annuities and certificates of deposit (CDs).
Compound interest is a tool for growing savings and building wealth. Because various options exist, understanding how compound interest works could be helpful for choosing the right account to match your goals and maximize savings growth.
People typically think of the average rate of returns when it comes to sustaining their retirement income. However, what might be more impactful is not the average return, but the order of returns.
Since each performs differently in various market scenarios, one crediting method or index is not necessarily the “best.” Taking time to explore each option can help you make an educated decision on the crediting strategy that is most suitable for your needs.
To better understand these solutions and how they work, here are common annuity and life insurance terms you may come across when exploring these financial solutions.
When you retire, you have a lot to look forward to, from traveling, pursuing your favorite hobbies, and spending time with your family. While looking toward the future, it’s important to remember what you may need to do before you enjoy your golden years.
With only one in five women feeling financially healthy versus 29% of men, it’s time more women felt financially empowered. Here are five steps to improve your financial health and better prepare for your future.
If you’re like many people in their working years, you may regularly contribute to your retirement accounts to build your savings for the future. An important thing to remember is that once you reach a certain age, you will be required to start taking withdrawals (also known as required minimum distributions, or RMDs) from certain accounts and pay income taxes.
How can you help minimize any damage from a bear market? One answer is to consider a fixed indexed annuity (FIA), a product made for times like these. FIAs offer the opportunity for tax-deferred growth, and many give you the option to generate guaranteed, lifetime income within the same product while protecting your premium from market volatility.
