A person who buys a tax-deferred annuity must name his beneficiary, his annuitant, and his annuity account’s owner. It is the owner who makes the initial fund investment and decides when to start the payouts. He also has the right to change the beneficiary anytime he wishes. The life of …
Before deciding to purchase an annuity, the person must first determine the need for it. If he’s nearing retirement age or is already retired, he needs a regular source of income. A fixed annuity can provide for this need. However, if he’s still young and saving for retirement, he can …
A fixed annuity stabilizes investment income and is most preferred by investors who aren’t working full time but have retired or are about to retire. It is an insurance contract which provides a fixed amount of income paid regularly for a specific period. A fixed annuity can have various options …
Just as paying seemingly modest fees for money management every year can stunningly reduce your wealth over time, paying seemingly modest taxes every year can sharply impact your quality of life in retirement. Money that is not in a tax-sheltered retirement account (more on these below) is subject to four …
