For many people, retirement is one area of their life which raises great concern, especially when it comes to dealing with issues of a financial nature. Knowing that you are able to be supported for the remainder of your life through the money that you have saved during your lifetime is a really important aspect of any successful retirement, and doing this effectively can save you a great deal of hassle and stress.
One great place to start when planning your retirement income is knowing what type of retirement plan you want and the type of annuity that goes along with your plan - choosing the right option. Through using an annuity you can be assured that you will receive a fixed return for your income each month for a period of time and this means that you no longer have to stress about where your next money could be coming from as you have a guaranteed source of income to rely upon.
Fixed term annuities are popular for one main reason and that's the guarantee that they give a person of the return that they are going to get for their investment but there are a number of downsides to taking out this type of option. As annuities are very market variable, you can find that many fixed term annuities offer you a much lower rate of return than you would come to expect from a traditional annuity and accordingly you could be left out of pocket.
If you aren't into risk then a fixed term annuity could be for you, but in some situations you may find that these are only available over a shorter period of time, usually up to around 10 years and then you will have to revert to a traditional annuity.
If you have a family or partner and you are looking to guarantee a source of income then a fixed term annuity can be a great choice to ensure that you are able to sustain both yourself and your family financially for many years to come.
One great place to start when planning your retirement income is knowing what type of retirement plan you want and the type of annuity that goes along with your plan - choosing the right option. Through using an annuity you can be assured that you will receive a fixed return for your income each month for a period of time and this means that you no longer have to stress about where your next money could be coming from as you have a guaranteed source of income to rely upon.
Fixed term annuities are popular for one main reason and that's the guarantee that they give a person of the return that they are going to get for their investment but there are a number of downsides to taking out this type of option. As annuities are very market variable, you can find that many fixed term annuities offer you a much lower rate of return than you would come to expect from a traditional annuity and accordingly you could be left out of pocket.
If you aren't into risk then a fixed term annuity could be for you, but in some situations you may find that these are only available over a shorter period of time, usually up to around 10 years and then you will have to revert to a traditional annuity.
If you have a family or partner and you are looking to guarantee a source of income then a fixed term annuity can be a great choice to ensure that you are able to sustain both yourself and your family financially for many years to come.
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