First and foremost, consumers buy annuities to create retirement income

[Insurance Forums Staff]

Insurance Forums Staff submitted a new article

First and foremost, consumers buy annuities to create retirement income

New LIMRA SRI study of annuity owners finds the top two reasons consumers buy annuities are to supplement Social Security/pension income and to receive guaranteed income payments for life. Two-thirds of pre-retirees say having enough money to last their lifetime is one of their top three goals of retirement.

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[Newby]

I still remember when my eyes were opened as to what annuities are and what they do. I’ve sold myself at least one every year since then.

Insurance agents are crazy that don’t take advantage of this retirement tool. Not all of your retirement money should be exposed to market risk.

 

[PCBI]

I still remember when my eyes were opened as to what annuities are and what they do. I’ve sold myself at least one every year since then.

Insurance agents are crazy that don’t take advantage of this retirement tool. Not all of your retirement money should be exposed to market risk.

I am considering but not solid yet. I make 2% on my neat egg now ans pay taxes on cap gains instead of flipping a 3.4% annuity in 3-5 years atuck paying 15,000 of cap gains if I want out. Either way Uncle Sam bends u over now or later. When its time to retire an anniuty taxes you on an immediate for payments as well. Im thinking a tax free lump sum of money I pay myself will be bwttwr in 5 years. Basically b my own annuity with a lump aum amount already taxed .