Should I buy annuities before retirement?

Should I buy annuities before retirement?
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1 Answer

Answer :

There are many types of annuities that you can buy. They are generally divided into two main types: immediate and deferred. After that there are also fixed or variable annuities. In general the variable annuities are used for retirement. But do not just buy annuities without realizing what they are. You need to make a long term investment plan if you want to really benefit from. It is best to create this as soon as possible, rather than after you are retired. As with all investments there is time involved.
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Related questions

I can buy my own stocks through sites like e-Trade and Schwab and Fidelity. I do my own banking with the bank's web site. Why do I have to buy annuities through a broker (human being)?

Description : I can buy my own stocks through sites like e-Trade and Schwab and Fidelity. I do my own banking with the bank's web site. Why do I have to buy annuities through a broker (human being)?

Last Answer : I'm pretty sure some annuities you can buy direct from the insurer and not a broker. Have you tried going directly to the company website that you are interested in buying from? Maybe the ... brokers. I think some annuities always carry a load and are only sold through some sort of salesperson.

What Are Some Good Things About Fixed Annuities Rates?

Description : What Are Some Good Things About Fixed Annuities Rates?

Last Answer : Fixed annuities rates means that the amount of interest a personowns downs not go up or down. As the term annuity also suggests,the interest on these funds is paid out yearly. Although thesefunds ... , usually largeamount, and receives payments at a later date or at a series ofspecified dates.B

Do I have to pay annual taxes on my fixed annuities?

Description : Do I have to pay annual taxes on my fixed annuities?

Last Answer : No, fixed annuities are generally tax-deferred. You will pay taxes on it when you remove the money from the annuity. Fixed annuities are not taxed so no you would not have to. You can find out more facts about how they work by visiting www.moneymanagment.info.

Are annuities a better investment than Certificates of Deposit?

Description : Are annuities a better investment than Certificates of Deposit?

Last Answer : Annuities may be a better investment than a Certificate of Deposit. The interest rate paid on an annuity is typcially higher than that paid on a Certificate of Deposit (CD). However a Certificate of Deposit is ... visit your local bank. When the time comes to cash out a CD is also easier to close.

Can I get an advance on my annuities settlement through my bank?

Description : Can I get an advance on my annuities settlement through my bank?

Last Answer : You can get cash for an annuity, but it's usually done through a third party rather than your bank. You can, however, use an annuity as collateral on a secured loan obtained through a bank.

Which fixed annuities pay the best for investments?

Description : Which fixed annuities pay the best for investments?

Last Answer : Fixed annuties are guaranteed to drop below a preset or fixed return on your investment. They are usually tied to the stock market. For a review of different type of annuities check out www. ... surrender charges. All of these factors are to be considered when looking for the best returns paid.

What are fixed annuities and how do they work?

Description : What are fixed annuities and how do they work?

Last Answer : Fixed annuities are like CD's but are geared toward retirement savings.

How often do fixed annuities pay?

Description : How often do fixed annuities pay?

Last Answer : Fixed annuities pay every year.

What are some of the best investments with the best fixed annuities for a 10,000 investment?

Description : What are some of the best investments with the best fixed annuities for a 10,000 investment?

Last Answer : annuityinvestmentguide.com is a great way to help guide you through choosing.

Are ING variable annuities good for long term investing?

Description : Are ING variable annuities good for long term investing?

Last Answer : I think for long term investing you want to find nonvariable investments to put your money in.

Where can I find out about ING variable annuities?

Description : Where can I find out about ING variable annuities?

Last Answer : Your best bet in finding whether the ING variable annuities are right for you would be to speak with a financial adviser or an ING representative. You can also find out a wide range of information by visiting the ING website.

Where is the information on ING's website about variable annuities?

Description : Where is the information on ING's website about variable annuities?

Last Answer : The direct link to ING variable annuities is http://ing.us/individuals/products-services/annuities/variable-annuities It is best to look into all forms of retirement planning.

Is ING variable annuities a good investment?

Description : Is ING variable annuities a good investment?

Last Answer : Yes, variable annuities can be good long term investments for someone who is planning for their retirement. ING is a large, well-known company. You can get more information from ING's official website.

What companies offer fixed annuities?

Description : What companies offer fixed annuities?

Last Answer : Fixed annuities are offered by many companies, the top companies are Metlife, ING, Mass Mutual, Prudential, Pacific Life an John Hancock Annuities. It is best to contact at least three companies to compare rates and types of annuities before committing to one company.

What are the best ways to gain the benefits of using insurance annuities?

Description : What are the best ways to gain the benefits of using insurance annuities?

Last Answer : Insurance annuities is like investing towards your future. There are many different types of annuities, you should choose one that meets your financial situation.

What steps should I take to give my life insurance in life annuities, as opposed to a lump sum?

Description : What steps should I take to give my life insurance in life annuities, as opposed to a lump sum?

Last Answer : Many life insurance companies simply give you the option for the payout. Simply contact the company and explain this to them, either over the phone or in person is best. You have the right idea, as that way your daughter can't accidentally spend the entire thing.

What is one thing you should do before retirement?

Description : What is one thing you should do before retirement?

Last Answer : Actually save towards it

Friend fired just before retirement and committed suicide - Can his wife sue the company?

Description : Friend fired just before retirement and committed suicide - Can his wife sue the company?

Last Answer : I’m not positive, but if there was any way for her to prove that he was fired just because he was close to receiving retirement benefits, she may very well have a case against them.

How do you see yourself doing things before and after your retirement?

Description : How do you see yourself doing things before and after your retirement?

Last Answer : I think, people who are nearing retirement should reconsider not retiring yet. They should continue working and earning to replenish back their retirement funds which the stupid mandate of lockdown is ... will continue working even after retirement age, God providing the jobs we have right now.

What will happen if I decide to withdraw money out of my 401K account before I reach retirement age?

Description : What will happen if I decide to withdraw money out of my 401K account before I reach retirement age?

Last Answer : You will get nailed with at least a 10% penalty and have to claim it as taxable income besides, unless you can do it on a 401k loan wich you repay to yourself at a set interest rate. (a much better idea)

What should I know before I begin an IRA and start saving for retirement funds?

Description : What should I know before I begin an IRA and start saving for retirement funds?

Last Answer : Make sure you are able to live without this money for the long term. It is intended for retirement only and if you have to take it out before retirement you will pay a heavy penalty. Also if you ... be aware of the tax implications of the IRA and what the maximum investment for your age group is.

When will stop the recovery of GPF concerned the official due to retire on superannuation ? a. One month before retirement b. Two month before retirement c. Three month before retirement

Description : When will stop the recovery of GPF concerned the official due to retire on superannuation ? a. One month before retirement b. Two month before retirement c. Three month before retirement

Last Answer : c. Three month before retirement