Have you ever wondered what a Retirement Annuity is and how it can benefit you in the long run? Well, you’re in the right place!

In this video, we’ll explore the advantages and disadvantages of Retirement Annuities, and here’s why it’s crucial: As Brendmo, we deal with payrolls and tax returns for many organisations.

We’ve noticed that a significant number of people don’t have Retirement Annuities (RAs) when they should. As your accountability partner, we believe it’s vital to address this topic. Whether your organisation assists you or not, remember that one day, you won’t be able to work, but your bills won’t retire.

If you have any questions, please don’t hesitate to ask in the comment section below.

Like the video and feel free to subscribe to this channel to not miss any of our future videos.
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VIDEO TIMESTAMPS:

01:26 – What is a retirement annuity?
03:02 – Tax benefits
04:02 – Investment growth
04:29 – Retirement income
05:55 – Flexibility
06:19 – Inflation hedge
06:31 – Estate planning
06:55 – Protection from creditors
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ABOUT BRENDMO ACCOUNTANTS:

Brendmo Accountants is a growing auditing and accounting firm in South Africa. Our services include accounting, auditing, and advisory. human resources, advisory, secretarial, tax, etc. Visit our website to learn more @
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LEARN MORE ABOUT: Retirement Annuities

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Retirement annuities are a popular investment option for individuals looking to secure their financial future after they retire. An annuity is a contract between an individual and an insurance company that provides regular payments to the individual after they retire. There are several benefits to investing in a retirement annuity that individuals should be aware of. Here are 7 retirement annuity benefits you need to know:

1. Guaranteed income: One of the most significant benefits of a retirement annuity is the guaranteed income it provides during retirement. With an annuity, you can rest assured that you will receive regular payments for the rest of your life, no matter how long you live.

2. Tax-deferred growth: Another benefit of retirement annuities is the tax-deferred growth they offer. This means that the money you invest in an annuity grows tax-free until you start receiving payments, allowing your investment to compound over time.

3. Flexible payment options: Retirement annuities offer a range of payment options that allow you to choose how you receive your income during retirement. You can opt for a fixed payment amount, a variable payment amount based on market performance, or a combination of both.

4. Protection from market volatility: Retirement annuities provide protection from market volatility, as your payments are not affected by fluctuations in the stock market. This can provide peace of mind during retirement, knowing that your income is secure regardless of economic conditions.

5. Estate planning benefits: Annuities can also be beneficial for estate planning, as they allow you to designate beneficiaries who will receive the remaining balance of your annuity upon your death. This can help ensure that your loved ones are taken care of financially after you pass away.

6. Longevity protection: Retirement annuities offer protection against longevity risk, which is the risk of outliving your savings. With an annuity, you can have peace of mind knowing that you will receive income for as long as you live, regardless of how long that may be.

7. Supplemental income: Retirement annuities can also provide supplemental income during retirement, allowing you to maintain your standard of living and enjoy the things you love without worrying about running out of money.

In conclusion, retirement annuities offer a range of benefits that can help individuals secure their financial future after they retire. From guaranteed income to tax-deferred growth and flexible payment options, retirement annuities provide a reliable and secure investment option for those looking to plan for their retirement. If you are considering investing in a retirement annuity, be sure to consult with a financial advisor to discuss your options and determine the best strategy for your individual needs.