Annuities the Right Option (When Annuities are Right for You)
While discriminating against a group of people is amoral, it’s important to understand that investing in an annuity is not for everyone. If you’re not part of the baby boomer generation, a woman or a middle-class worker, getting an annuity might not be your wisest decision. If you do fall under any of the above groups, however, a recently published article on InsuranceAgents.com urges you to invest in one today.
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Used primarily as part of a retirement plan, an annuity is a life insurance investment that guarantees you a fixed and stable income once you retire. It is dependent on a couple of factors, however.
“Needing an annuity depends on how old (or young) you are, the size of your assets, and how investment-savvy you are,” the article, An Annuity: Should You Get It?, reports. “And just like there isn’t one type of person who needs an annuity, there isn’t one universal type of annuity that is right for people who need them.”
As mentioned earlier, it is a prime time for baby boomers, women and the middle class to look into investing in an annuity because it would benefit them all in different ways. Women, for instance, live longer than men and are a “longevity risk.” With the investment, they will be able live comfortably while still maintaining an income.
If you fall into the following groups of people, however, an annuity investment would be senseless: the youth, the elderly, the rich and the poor. Simply put, these individuals simply don’t have enough money to invest in one or they don’t need the money, thus making it a worthless investment.
We had heard about annuities and were investigating them for our IRAs. We also heard bad things about pushy brokers over the years. So when we went to the ImmediateAnnuities.com site we were skeptical about calling them. But whenever we called their staff was really friendly. They answered all our questions and one of their reps even told us that at our ages there was no advantage to buying the annuity with our IRAs. These guys are really honest!
“Of course, there are always exceptions to every rule,” the article reports. “This is why you should find a reputable insurance agent who can talk with you in depth about annuities and will help you decide whether or not an annuity would be truly beneficial for you.”