Annuities are vital in allowing for your retirement savings to grow and creating income, thus allowing for you to feel secure and enjoy your retirement.
In simplest terms, an annuity serves as a contract between you and your life insurance company. In regards to purchasing an annuity, you’re able to do so with a portion of your retirement savings, and have the option of doing so with a single payment or with multiple payments. Owning an annuity is advantageous, as you’ll continue to have control of your money, as needed.
Annuities are of utmost importance when it comes to your retirement, as they allow for your retirement income to stay protected no matter the circumstances the market faces. Overall, annuities will allow for you to sustain your income and support your lifestyle, thus allowing for peace of mind during retirement.