Ways that Age and Contract Specifics Make a Difference with Annuity Options
“Aaaah-ah-ah-ah-aaaah-ah-ah-ah-aaaah!” There you are! We’d know your yell anywhere. Okay, You Tarzan, she Jane and we’ve been trying to hunt you two down to talk about annuities. Got a minute? Cool. First of all, it’s time that you traded in that played out loincloth for some civilian threads. Sure, you’ve proven that you have jungle cred, but an annuity will really make you king of your domain.
By now you’ve reached senior status, so you should know about the best annuities that are available for people in your age group who want a tax deferred method of saving. We, at Achieve Financial Group, are going to swing on over to your newly remodeled hut and give you some options that we’ll bet you go ape for.
- Immediate payment – You’ll choose between a fixed annuity or variable annuity. Fixed offers the highest potential. Variable starts out lower, but can increase the following year.
- Deferred annuities – This type of annuity gives the tax deferred option, without getting an immediate income.
- Guaranteed rates – With this type of annuity, you’ll be able to get a guaranteed rate of return for a specified period, but make sure you get the highest guarantees with the most liberal rules.
- Access – Make sure you can take out money annually without a penalty called “free out” money, so if you don’t use 10 percent this year you’ll have 20 percent available the following year.
- Death Benefit – This type of annuity allows you to pass the funds to a beneficiary at your death, but varies according to the wording of the riders.
Alright Tarzan, the spear is in your tree. Be a hero and stop monkey-ing around. Find your way to the mainland where you and Jane can protect your financial future with the best annuity that works for both of you.