The now new tool for retirement planning by investment planners, estate planners Attorneys and CPA's are tax deferred annuities. If you look around you will Notice that banks, brokerage houses and other financial institutions have jumped On the band wagon to meet the consumers demand for safe retirement vehicles with tax deferred annuities.
People are living longer due to the advancements of modern medicine and baby boomers are retiring everyday. As the countries aged population grows annuities have been Introduced into retirement planning because of their safety in accumulating money And a road to life time income with no rise of loss.
Who Can Benefit The Most With Annuities?
That's just it, the retirement, investing and saving minded public who has their future retirement on the fore front of their minds. Anyone who is concerned about not out living their retirement or losing it all one day in the stock market will sleep better at night. See it no secret that lack of knowledge about tax deferred annuities have kept the public away from annuities. While others who currently own annuities are bewildered about what they actually own.
Is there A Place For Annuities In Your Conservative Portfolios?
Anyone looking for A secure place, a conservative investment vehicle for their retirement dollars to accelerate the growth rate of their investment needs to consider what a tax deferred annuities can do for them. Annuities offer secure benefits that many other conservative means of saving for retirement do not offer, for instance, a death benefit. What makes annuities so attractive is the benefit for one to defer taxes and the compound growth effects of your money.
What Exactly Is An Annuity?
An annuity is merely a contract an agreement between a buyer and contract owner as Well as the issuer (most likely the insurance company). An individual (the owner) Pays into the annuity by either a one time lump sum or by periodic payments over a set Period of time. If you chose a fixed annuity you are guaranteed a minimum rate of Return and if you go with a variable annuity you can participate in the grow of the underlying asset tied to the annuity.
If it's retirement income you're looking for annuities are one of the best sources. What happens in this case is the owner pays a lump some to the insurance company, called a premium, And in return he will get an income guaranteed for a stated period of time for for Life if he chooses.
How To Chose the Best Insurance Company
People often wonder how they know there retirement money is safe once they hand It over to insurance. Well the best way to ease your mind is to look into the solvency Of the insurance company. There are rating companies that rate insurance companies Based on their ability to pay claims and their solvency. You want to look at the A.M. Best and Company they have been rating insurance companies since 1899. A financial Sound company will have a rating of A++ the highest rating to a F low rating. A company Posing a little risk will be rated B++ to A++. If you are looking at an insurance with rating below this it is recommended investigate further by turning To other rating agencies like Standard and Poor's (S&P), Moody.s and Fitch Ratings.
My Conclusion:
I hope the article above helped to show you that annuities are great vehicles for retirement planning and to make sure you do not out live your money. If you have an annuity grab your policy and read through the benefits and terms of your contract. If you thinking about buying an annuity it is best to do a little research on the companies financial strength and feel comfortable in your decision. Would you like to learn more about how to invest safely with tax deferred annuities?
Kim Murray is an Annuity Specialist For more great information on annuities buyers secrets, visit http://www.annuitybuyersecrets.com.
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