Are you thinking about retiring? And what that could look like for you? If you are, your primary goal is most likely to be able to retire comfortably with a steady stream of income. New York Life reviews the safety of annuities.
Guaranteed Monthly Income for Life
Annuities can assure that you have a steady monthly income for the rest of your life, and also the life of your spouse. Many retirees and annuity owners use this income for their day-to-day living expenses. It can also provide you the peace of mind that you won’t outlive your savings, which is known to be a common concern among retirees.
Annuities provide solutions based on your needs, risk tolerance, and financial objectives. Consider when you will need retirement income and whether you will need it now or later to determine the type of annuity you should purchase. Annuity FYI has information on a variety of guaranteed income annuities to meet your needs. These annuities include immediate annuities, which begin paying in as little as 30 days, deferred income annuities, which begin paying at a later date, determined by you.
What is the safest type of annuity?
Fixed annuities also known as multi-year guaranteed annuities (MYGAs) are among the most secure financial investments. Opposingly, variable annuities can be more volatile because they invest in equities or bonds, so their performance is influenced by market conditions.
Can you lose your money in an annuity?
Yes, although certain products have downside protection, some variable annuities can cause you to lose money. Again, these annuities are influenced by the investments to which they are tied, so this means that you can get rewarded based on the performance of your investment portfolios. This also means you may lose money if these investments do not perform adequately.
On the other hand, fixed annuities offer guaranteed rates of return. With these annuities, you have the assurance of knowing your money is safe and secure while earning attractive returns over time. So whether you’re looking for shorter-term growth of your savings, or long-term retirement income for life, an annuity could be the perfect and secure solution.
Here are some recent product reviews that may be of interest to you:
For more information contact Annuity FYI at 1-866-223-2121 to speak to a registered agent. You can also visit our website, AnnuityFYI.com, or send us an email at firstname.lastname@example.org.