Who Should Purchase an Annuity?
Who Should Purchase an Annuity?
Annuities have become a popular option to grow your money or adding additional income streams. Many people may be adding an annuity to their financial planning, but how do you know if you should invest your money into one? You may be wondering who exactly an annuity is right for, and the answer may be you. Learn more about what makes someone a good candidate for purchasing an annuity.
Those Getting Ready to Retire
If you have maxed out your investment options an annuity could be a great fit to create more income in your retirement. Many people rely on their retirement savings and eventually social security to fund their income during their golden years. However, including a fixed rate annuity to your income stream could offer an additional cushion to your budget.
Those Who Have the Means
Many people spend their career saving. There are many things we save for, from vacations to an emergency fund, but your money could be put to better use than sitting in a traditional savings account. If you have the funds to do so, putting the money into a fixed rate annuity may help you grow your savings in a more substantial way than a traditional or high yields savings account. Depending on how long you are looking to invest your money, you could be growing your intial premium by up to 4.5% annually.
Those Looking for Safer Investment Options
The idea of investing your money into the stock market can feel daunting. You could earn a high payoff, but you could also lose some of your money in the process. For those who are looking to earn some steady growth on their money, a safe option can be a fixed rate annuity. Through fixed rate annuities you are locked into an interest rate that will not change for the entirety of the guarantee period.
Looking into your financial means is helpful to discovering if a fixed rate annuity can help your financial future. Meeting with a financial advisor can help you learn more about your financial situation. If you want to know more about annuities, Americo Financial Life and Annuity Insurance Company (Americo) is here to help. Contact a trusted Americo agent to learn more about what an annuity can do for you. You can also discover how a fixed rate annuity with Americo can help your financial future with our annuity calculator. For those who feel ready to purchase an annuity, contact us today.