What is an annuity?
Annuities can have several different intentions. The original purpose was as a way to convert a single deposit of money into an income stream that was guaranteed for life. Innovations in just the past 2-3 years have expanded the possibilities, turning annuities into a powerful strategy for growing your money as well.
Both Growth AND Safety?
A major concern of many people is that they won’t have enough money in retirement. Until recently, you either had to choose to try for growth (but that meant putting your money at risk in investments) or to choose safety (which meant you saw almost no growth at the bank – and meanwhile watching the cost of living and medical care continue to rise). Now there is actually the option to grow your money uncapped with the market while also having a guarantee of no loss! When the market goes up, you go up with it. When the market goes down, you don’t lose a penny. How can you beat that?
Money for life.
When you have worked hard and saved money for retirement, you want to know that your money will last. It may be time to look at an annuity as part of your financial planning strategy.