Annuities are one of the less common options that are brought up or known about. Not being interested in an annuity should never be because of a lack of knowledge, because while these products are less common than a 401K or IRS, they provide a lot of options that other retirement plans don’t offer. Annuity genius is certain that there is an annuity product that is suitable for your retirement goals, so we’ve highlighted some of the benefits that annuities have that other retirement saving options don’t provide. Annuities are a guaranteed form of savings with a blend of features that only continue to benefit your financial future.
Guaranteed Growth
Annuities earn interest just like other forms of retirement savings. What other saving options don’t offer is the guaranteed payout that annuities offer. You are guaranteed a bigger payout by the time you begin receiving your payouts.
Tax Deferred
Annuities don’t tax you until you begin the withdrawal process. This allows for your account to grow. When taxation does begin, it will be within the tax bracket that you are already currently in. This is a feature that majority of savings accounts will not have, take into consideration the finances that you can secure just from not having to pay taxation.
Minimum Interest Rates
Annuities have low interest rates because of all the ways that insurance companies are able to invest this interest. Upon signing the contract of your annuity you and your advisor will discuss the details for interest and what the minimum is.
Annuity Genius has a team of financial experts that understand the nitty gritty of annuities and how they work. If you’re intrigued by some of the options that annuities offer that other options of savings don’t, contact us today. We can sit down with you and learn more about what types of goals you have for your retirement. From there we can determine specifically which annuity is most suitable to save for what you hope to achieve. Schedule an appointment today and find the most suitable annuity product for you.