Financial woes abound today! We are experiencing uncertainty due to the pandemic, followed by supply chain disruption, a war in the Ukraine, and inflation. The S&P had its worst year in 2022 since 2008, and the fourth worst since the index’s launch in 1957. If you are looking for an investment that is protected from a stock market crash, and provides a guaranteed retirement income, an annuity is your solution.
What is an annuity?
An annuity is a customizable contract issued by an insurance company that converts an investor’s premiums into a guaranteed fixed retirement income stream. They are financially safe and secure, which limits potential loss. An annuity is a financial instrument issued and backed by an insurance company that provides guaranteed monthly retirement income payments for the life of the contract, regardless of market conditions. Two benefits of an annuity are its principal protection and the potential for guaranteed lifetime income during retirement years.
You can customize an annuity based on a variety of options, including how long you think you’ll live, when you want your payments to start and whether you want to leave your income stream to a beneficiary after your death. You can buy an annuity with either a lump sum or a series of payments contributed over time. Funds will accrue on a tax-deferred basis. Annuities are an alternative to the unpredictable stock market and are currently yielding high interest rates. Charles Leach offer annuities with very competitive rates.