Each brokerage, insurance company, and financial institution offers its own products and services. However, surrender fees, commissions, and annual fees are the most common types of fees. Fees can include insurance fees, investment management fees, and riders fees.
Annuities can be a great way to help seniors save tax-deferred funds to pay down their retirement expenses, such as healthcare and living costs. Annuities that start paying within 12 months are the best for seniors. Senior citizens should choose the best annuity for their retirement goals.
Learn more about the benefits that annuities can offer seniors, including guaranteed payments, delayed Social Security and managing rising medical expenses. By choosing the right financial product, you can ensure the health and well-being of your loved ones.
An annuity that increases with inflation is a good way to offset inflation. These annuities are cheaper than fixed annuity options and will increase in price over time. These annuities are worth looking at in light of recent inflation.
Bottom line: Do your research before you make an investment in an annuity. Ask questions and read carefully the plan documents to ensure you understand the operation of your annuity.
An annuity is a great option for retirees. How do you find the best annuity for your needs? Let’s get started with finding annuities, and then buying them.
Young people might see higher returns if their 401k and Roth IRA plans are maxed out. Senior citizens, however, don’t have the same time frame and are either in retirement or already retired. There are two types of variable annuities: fixed and variable. The first refers to an annuity that pays a similar or fixed amount to the market. You may have a combination of both.
RetireSharp Wealth Management, LLC is a registered investment adviser in the state of Florida. The adviser may transact business in states where it is appropriately registered, or where it is excluded or exempted from registration. Information presented is for educational purposes only and is not an offer or solicitation for the sale or purchase of any securities or investment advisory services. Investments involve risk and are not guaranteed. Be sure to consult with a qualified financial adviser or a tax professional before implementing any strategy discussed herein.
This information is designed to provide general information on the subjects covered, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Ifasi Financial and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney.
Annuity guarantees rely on the financial strength and claims-paying ability of the issuing insurer. Any comments regarding safe and secure investments, and guaranteed income streams refer only to fixed insurance products. They do not refer, in any way to securities or investment advisory products. Fixed Insurance and Annuity product guarantees are subject to the claims‐paying ability of the issuing company and are not offered by RetireSharp Wealth Management, LLC.