Thinking of your retirement years should make you think of taking it easy and enjoying life. But, sadly, for many it is filled with dread. But with some careful planning that includes the best annuities you can find can help ease those worries. Making fixed annuities part of your retirement portfolio can help increase you retirement income. Fixed annuities guarantee you an income stream after 60.
Income After 60
The best annuities are the ones that will allow you to put preretirement money into a fund that will be available to you after you retirement. Fixed annuities provide for that. They allow you to set up a fund that will provide a monthly income for you when you are no longer working. It is set up so you cannot touch it before you are 60 without serious penalties.
Savings for Tomorrow
You can put an unlimited amount of fund into fixed annuities which is different from IRA and 401K accounts. With IRA and 401K accounts you have a cap that you can't go over. You are only allowed to put so much money into these funds. A fixed annuity is different. You may put as much money into this fund as you want to. It's a savings account for the future that earns interest.
Income that is Tax Deferred
You will also get a tax break when you start a fixed annuity fund. Taxes are deferred with annuities. They do work a bit different than some other retirement plans. 401K savings are taken out of your paycheck and placed in the account before taxes are removed. Fixed annuities savings are taken out of you paycheck and put into the fund after you pay taxes on the money. The best annuities will help you plan for tax deferred savings that work for your best interests.
So don't wait to get some free annuity quotes and see what there is available in fixed annuities. Remember the best annuities are the ones that work for you. You don't want to make a fixed annuity your only source of retirement income but it makes an excellent addition to your retirement planning. And the nice thing about fixed annuities is you can't outlive them. No matter what your projected life expectancy is if you out live the projection you still keep getting your monthly payment. That is a very nice security. - 31884
Income After 60
The best annuities are the ones that will allow you to put preretirement money into a fund that will be available to you after you retirement. Fixed annuities provide for that. They allow you to set up a fund that will provide a monthly income for you when you are no longer working. It is set up so you cannot touch it before you are 60 without serious penalties.
Savings for Tomorrow
You can put an unlimited amount of fund into fixed annuities which is different from IRA and 401K accounts. With IRA and 401K accounts you have a cap that you can't go over. You are only allowed to put so much money into these funds. A fixed annuity is different. You may put as much money into this fund as you want to. It's a savings account for the future that earns interest.
Income that is Tax Deferred
You will also get a tax break when you start a fixed annuity fund. Taxes are deferred with annuities. They do work a bit different than some other retirement plans. 401K savings are taken out of your paycheck and placed in the account before taxes are removed. Fixed annuities savings are taken out of you paycheck and put into the fund after you pay taxes on the money. The best annuities will help you plan for tax deferred savings that work for your best interests.
So don't wait to get some free annuity quotes and see what there is available in fixed annuities. Remember the best annuities are the ones that work for you. You don't want to make a fixed annuity your only source of retirement income but it makes an excellent addition to your retirement planning. And the nice thing about fixed annuities is you can't outlive them. No matter what your projected life expectancy is if you out live the projection you still keep getting your monthly payment. That is a very nice security. - 31884
About the Author:
Tomas Fitzpatrick authors articles to help investors assess the best annuities for their retirement. The most common type, are fixed annuities because of their low risk, however, variable, and equity indexed options are also used depending on the state of the economy
