Home / Blog / Fixed Annuity Rates for Pennsylvania Residents

Fixed Annuity Rates for Pennsylvania Residents

According to “Retiring in a positive tax climate is only half the battle,” written by Christopher Scalese for The Times-Tribune, fixed and fixed indexed annuities could be great retirement vehicles for Pennsylvania residents.  They are lucky to live in a state with favorable tax codes for retirees, but Pennsylvania residents still have to find a way to maximize their retirement income.  In Pennsylvania, they have a low sales tax, Social Security benefits are not taxed on the state level, and pensions are only partially taxed.

These tax benefits are a great start, but residents still need to make the most of their retirement savings and annuity products are a good way for many people to do that.  Interest rates are very low on bank CD’s right now and although annuity rates are lower than they have been in the past, fixed annuity rates are higher than those of CD’s because they are offered by insurance companies rather than banks.  Fixed annuities are a good way to earn interest tax-deferred and keep your money safe from volatile markets.

If you are looking for some market exposure, fixed indexed annuities give you that, but they still protect your principal from any losses.  People who choose annuities are typically looking for a safe way to grow their money and ensure that it lasts through retirement.  Annuities also offer tax savings that can add to the benefits already established for Pennsylvania residents.  Every safe investment has terms that you should look into and annuities are no different.  It’s best to speak with an expert and make sure the product is right for you.

Written by

Follow Finance Mama on Twitter http://twitter.com/#!/financemama

Share Button
Comments are closed.

 

Copyright © 2018 AFYI Holdings Group, LLC. All Rights Reserved. No part of this article may be reproduced without the express written consent of AFYI Holdings Group, LLC.

Annuityfyi.com - Prefooter

× Popup Banner

FIA GUIDE

5 keys to making the right decision

Not Today
× Popup Banner

Discover How to Control Your Financial Future

FREE Download and Newsletter

FIA Guide: 5 Keys to Making the Right Decision

Not Today
× Popup Banner

Avoid Costly Mistakes When Picking Your Annuity

FREE Download and Newsletter

FIA Guide: 5 Keys to Making the Right Decision

Not Today
Share On Facebook
Share On Twitter
Share On Google Plus
Share On Linkedin
Share On Pinterest