Annuities in Retirement: When They Make Sense

| October 10, 2018
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Do annuities and retirement go hand-in-hand? Not always. But, annuities do serve as a great way to secure income in retirement, especially under certain conditions. Here are four situations where annuities make most sense in retirement.

  1. You want guaranteed income for life. Annuities are a smart bet for people who prioritize having a base income as they age.
  2. A low-risk portfolio is a top priority for you. Guaranteed income is nearly synonymous with low-risk; so if you’re wanting to be safe rather than sorry, annuities are a great option.
  3. You want a tax-efficient way to protect your assets. Using an annuity as a portion of your assets can provide you with tax advantages. Especially if you’re not planning on taking all the money out for a while.
  4. You want to create your own “pension”. In today’s environment, fewer workers are able to enjoy employer pensions, leaving people struggling in retirement. But, with the lifetime income that annuities provide, they can act similarly to the pensions of the past.

Are you set for a financially-sound and enjoyable retirement? If not, an annuity could be the answer you’re looking for. Feel free to call us to learn more about your annuity options.

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The information within this article is for educational purposes only and does not constitute legal or tax advice. Customers should consult their legal and/or tax professional regarding their own unique situation.  Insurance product features, benefits and guarantees are based upon the claims paying ability of the issuing insurance company.

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[1] https://money.usnews.com/money/blogs/on-retirement/articles/2017-02-03/5-times-an-annuity-makes-sense-for-retirement 

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