Who Owns Annuities? And Are They Right for You?

Buying annuities

Annuities are one of the most talked about and debated forms of preparation for retirement. What are annuities? They’re basically just a type of insurance product that eventually help people manage their money in retirement. So who is actually buying annuities? A few different groups.

Most non qualified annuity owners, about 80% of them, have household incomes that come in below $100,000. A non qualified annuity is one in which the owner pays taxes on the funds going into it before it goes into the annuity. Additionally, most owners of non qualified annuities are women.

The people who do own annuities are very loyal to their purchase. In fact, more than 90% of people who own an annuity still own their first one and buy it to begin with to help fund their retirements.

Annuities have their advantages and disadvantages, and each type is unique. Whether they are right for you in the first place and which type is right for you all depends on your goals. Fixed annuities for example, function much like a CD which means that they sit in a space and accrue interest and are basically untouchable. If you can afford to put in the funds and let them sit until the target date, it might be right for you.

Another thing to consider about annuities if you’re thinking about buying one is how it will actually pay out. Some are periodic payments and others offer one annuity lump sum payment. Depending on what your goals are and how much of that money you’ll need and when, you’ll have to think about how you want to receive those funds.

If you already own an annuity but are finding that it isn’t right for you or that you need that cash now — but don’t want to pay any of the hefty fees and penalties, there is a way out. There are companies out there that will pay you an annuity lump sum payment and take over the annuity for you. See this link for more: www.sellmyannuity.net

Фото киски

Leave a Reply