How Annuities Help With RetirementPosted on October 25, 2018
Unlike other tax-deferred retirement accounts such as 401(k)s and IRAs, there is no annual contribution limit for an annuity. That allows you to put away more money for retirement, and is particularly useful for those that are closest to retirement age and need to catch up.
With Annuities all the money you invest compounds year after year without any tax bill. The ability to keep every dollar invested working for you can be a big advantage over taxable investments.
When you cash out, you can choose to take a lump-sum payment from your annuity, but many retirees prefer to set up guaranteed payments for a specific length of time or the rest of your life, providing a steady stream of income.
Looking forward to retirement? Make retirement even sweeter with an annuity plan. Call us at 904-285-4030