The importance of rolling retirement plans into annuities is discussed in Kyle Fitzsimmons’ article “The Pension to Annuity Rollover: Solidifying Futures,” published via Official Wire. Whether you have a pension or a 401k at your place of employment, this tough economy is causing employers to drop pensions and stop contributing to employees’ 401k plans left and right. Making a pension or 401k annuity rollover with a reputable insurance company can be a way to ensure your money makes it to retirement with you.
Do your research to find a reputable insurance company and compare annuities to find the best product for your money. Most annuities will grow in value and offer little to no risk of losing your principal value. Fitzsimmons warns that even the best annuity will do nothing for you if purchased through the worst insurance company. That is why it is best to speak with an expert to determine a wise place to invest your money. Most insurance companies can take your pension or 401k annuity rollover and offer you guaranteed income over your lifetime.