The very definition of retirement has changed: at what age people retire, how they live their retirement lifestyle, and certainly, how they fund retirement. In the past, a typical retiree counted on Social Security and company pension plans to ensure they had enough money to live in relative comfort. With the all-too-recent financial crisis, the uncertain future of Social Security, and the decline of pension plans, those considering retirement are realizing they will increasingly need to create their own plan to fund the retirement they desire. Annuities can be an invaluable tool to use when crafting a plan for your financial future.
Many people believe annuities are complicated. However, the basic concept of an annuity is actually very simple: You give money to an insurance company and in return they give you a guaranteed stream of income for a specific period of time or even for life. In addition, deferred annuities can guarantee you a rate of interest. Further, one of the biggest advantages deferred annuities offer is that they allow you to accumulate an amount of money while deferring taxes. Compare your retirement annuity options now.