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Annuities offer many benefits, like saving for retirement and cutting your taxes, that other traditional methods of finance may not offer as well. However, an annuity does not work for everyone. Make sure annuities are right for you.
Annuities can prove to be great assets, but before diving in you need to ask yourself some questions about your financials first.
Annuities can help you save for retirement, reduce risk, cut your taxes and guarantee a lifetime income. But they’re not right for everyone.
How can you tell if an annuity is right for you? And if one is, what kind would best meet your needs?
Deferred annuities—fixed, variable and fixed-indexed—help you save more for retirement while deferring taxes on earnings. Immediate annuities pay current income for people who need more income right away, usually retirees.
Ask yourself the following questions to decide whether an annuity is right for you:
Once you decide that an annuity is right for you, these questions can help you decide which type or types will suit you best.
Annuity expert Ken Nuss is the founder and CEO of AnnuityAdvantage, a leading online provider of fixed-rate, fixed-indexed and immediate-income annuities. He launched the AnnuityAdvantage website in 1999 to help people looking for their best options in principal-protected annuities. More information is available from the Medford, Oregon, based company at https://www.annuityadvantage.com or (800) 239-0356.