When you are looking for a guaranteed lifetime income in retirement, safety and consistency should be your main concern. In these days of economic distress, employer pensions are of questionable stability and most other investments carry too much risk. It’s no wonder, then, that quality guaranteed annuities from highly rated insurance companies are rising in popularity.
One of the most important things you can ask for in retirement is a consistent and secure monthly income that you can rely on. A guaranteed annuity can provide you with that consistent monthly income year after year in your retirement. If you have a retirement account, you will need to decide what you will do with the funds as retirement nears.
Typically, the company handling the funds will contact you trying to sell you an annuity. Basically, you are trading in the funds in your retirement account for steady income in retirement. You are not required to convert your retirement to an annuity with the same company who holds the retirement fund. This is a common misconception and can cost thousands of dollars in retirement. You should never take the first deal being offered you, and there are plenty of other products on the market to choose from.
So while a guaranteed annuity may be just the right thing at this point in your retirement planning, it’s critically important to pick the Right guaranteed annuity… AnnuitystraightTalk can help with that decision. Your options will include fixed annuities, variable annuities, and immediate annuities. All have benefits and drawbacks that you should be aware of, but all, in their own way, offer some level of guarantee.
The term ‘Guaranteed Annuity’ therefore is often misunderstood- it’s not a type of annuity, but rather, is a characteristic of most annuities. The length of guarantee, the rate of return guarantee, the income guarantee— all these are variables that you pick between to find the best combination of safety, flexibility, and profitability for your situation. It might take a little work, and Annuity StraightTalk can help, but finding Guaranteed Lifetime Income is worth the effort!
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