We were recently asked why we believe that an annuity can help with your retirement strategy. Three reasons come readily to mind.
The first reason is that they can be used as asset protection. Fixed annuities, for example, are safer for your money than volatile investment options. The second reason is the possibility of a guaranteed (backed by the claims-paying ability of the carrier) income stream. An annuity can offer a consistent source of income, which can be valuable in ensuring that retirees have enough money to cover essential living expenses. A third reason is longevity protection; by placing at least a portion of your retirement savings into an annuity, you can guard against the risk of outliving your assets. Together, all of these things may offer you more confidence in the stability of your retirement strategy. Call us if you would like to discuss this further. We’re always here to help.