3 Types Of Annuities & Some Features & Benefits

#typesofannuities #benefits #features #annuities

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What are annuities?

There is a lot of confusion around the annuity, and in this video I hope to help set the stage for you to understand the types of annuities, features and benefits of the annuity and a couple case studies from my client files.

Types of Annuities
Fixed Annuities
Indexed Annuities
Variable Annuities

Features and Benefits
Guaranteed Income
Death Benefit
Guaranteed principle

00:00 – Intro.
00:28 – Types of Annuities.
03:26 – Features and benefits of the Annuity.
05:35 – Things to watch out for with annuities
07:35 – Client case studies.

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#FinancialSelfReliance #annuity #annuities #FSR #FinancialEducation #FinancialIndependence #FinancialLiteracy #FinancialFreedom #recession #FinancialPlanning…(read more)

LEARN MORE ABOUT: Retirement Annuities

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An annuity is a financial product that provides regular payments to an individual over a specific period of time. They are a popular choice for those looking to create a guaranteed stream of income during retirement. Here are three common types of annuities and some of their features and benefits.

1. Fixed Annuities

Fixed annuities are annuities that guarantee a fixed interest rate for a set period of time, often between three and 10 years. The interest rate on a fixed annuity is typically higher than that of a savings account, but lower than that of other investments such as stocks or mutual funds. One of the benefits of a fixed annuity is that the principal is guaranteed, so investors will not lose money due to market volatility. Another benefit is that fixed annuities are tax-deferred, meaning that the investor will not pay taxes on the earnings until they withdraw the money.

2. Variable Annuities

Variable annuities are annuities that invest in mutual funds, stocks or other market-based investments. The earnings on a variable annuity are not guaranteed, but the potential for growth is higher than that of a fixed annuity. One of the key features of a variable annuity is that investors have control over the underlying investments, which means they can choose which funds or stocks their annuity will hold. Variable annuities are also tax-deferred, which can be a benefit for investors looking to maximize their retirement income.

3. Indexed Annuities

Indexed annuities are a type of fixed annuity that offers the potential for higher returns based on the performance of a specific index, such as the S&P 500. Indexed annuities have features that protect investors from market downturns. One of the most common features is a cap on the interest rate that investors can earn in a given year. Another common feature is a floor that guarantees the investor will not lose any money due to market volatility. Indexed annuities are also tax-deferred, which means investors can take advantage of the benefits of compounding interest over time.

In conclusion, annuities are a popular choice for those looking to create a guaranteed stream of income during retirement. Fixed annuities provide a guaranteed interest rate, while variable annuities offer the potential for higher returns based on market performance. Indexed annuities combine features of both fixed and variable annuities, offering the potential for higher returns with protections against market downturns. All three types of annuities offer tax-deferred growth, which can be an important benefit for investors looking to maximize their retirement income.