Annuities are insurance products that can help you accumulate money for retirement and can provide you a reliable, guaranteed income in your golden years.
You might be right for an annuity if:
- You're nearing retirement age or have already retired
- You need to replace income from your regular paycheck
- You want the peace of mind that your investment won't decline in value
- You want an alternative to a certificate of deposit
- You want to build money tax deferred to use at a later date
- You have non-qualified funds to invest
What can you use annuity payments for?
How you use annuity payments are up to you. Here are some common uses:
- Everyday living expenses
- Supplement Social Security payments or other income sources you may have
- Fund a grandchild's education
- Contribute to charity
- Fund other insurance products