Are Annuities A Good Investment?

If you are looking for a reliable income stream during retirement, annuities are a good investment. Annuities are guaranteed income, not an equity investment with high growth.

Some do not consider annuities investments. Annuities are an insurance product that will provide guaranteed income in retirement. But they do provide an income for life.

Another benefit of an annuity, you can receive cost-of-living adjustments that can increase your payments each year to keep up with inflation. This can be valuable as you enter retirement on a fixed income.

Once you get close to the retirement age, you consider whether or not you have enough money. The worry of running out of money is one of the biggest fears people have in retirement. With an annuity, you’ll have income for as long as you live.

You can contribute to an annuity with no contribution limits. With a non-contribution annuity, you can contribute as much money as you wish.

Plus, you won’t have the fluctuation of the stock market. Fixed annuities offer a guaranteed rate of return, which means you will never have to worry about losing money in the stock market.

When you purchase an annuity with after-tax dollars, the money grows tax-deferred and you won’t pay taxes on the growth of your annuity when you start withdrawing.

When you pass, your annuity will pass to your designated beneficiary without probate. This can save your loved ones stress, money, time and provide them with immediate access to money to help cover funeral costs or any urgent needs.

To find out more about annuities and it’s many advantages, Call Advanced Insurance Concepts today and Jim Rooney will work with you to find the answer. Advanced Insurance Concepts works with a variety of insurance companies and all Medicare Advantage providers in Missouri and Kansas. He is licensed to sell Health, Life and Accident Insurance, so call Jim Rooney for all your insurance needs.