Securing a predictable income stream in retirement is likely a very common goal. There are numerous products and strategies available, and it’s prudent to analyze the different types to see which fits best in each person’s particular circumstances.
Annuities can offer income protection as well as several other advantages that may work well within an income plan. Depending upon individual needs and circumstances, annuities can be used to protect initial investments (premiums), supplement recurring income streams, allow tax-deferred growth, fund long-term care, and/or achieve wealth transfer goals, among other advantages.
An annuity strategy merits consideration before either being dismissed or implemented. The chart will help you navigate between different types of annuities used for different purposes.
