If you are wondering how annuities fit into this discussion about financial planning, consider the following to understand why it is worthwhile to at least consider how an annuity might fit into the picture:
- Retirement-focused financial planning is fundamentally about retirement income.
- Unless you are completely reliant on Social Security, you will have to figure-out how to use your assets to create a portion of your retirement income.
- If relying on personal assets, you have a basic choice: a) create your own annuity by managing your assets to produce income, or; b) outsource part of this responsibility to an insurance company through the purchase of an annuity.
- Creating a retirement income plan without an annuity is not easy and may be more expensive than using an annuity—don’t believe anyone who tells you otherwise.
- You cannot create guaranteed lifetime income without an annuity—don’t believe anyone who tells you otherwise.
- Log in to post comments
