Interest rates are historically low right now. And since a fixed annuity has ties to a fixed interest rate, why invest in a retirement annuity today?

Why not wait till the interest rates rise?

But how long will you have to wait?

And when are you wanting to retire?

In this video, I am going to discuss the cost of waiting to obtain a retirement annuity for your retirement portfolio.

You might be surprised to learn that the cost of waiting is not only about interest rates…

So, watch the video till the end to learn about your alternatives while you are waiting for interest rates to be on the rise prior to purchase a fixed annuity and why a fixed annuity is important for your retirement portfolio despite what is going on with interest rates.

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Table of Contents:

00:00 – Introduction
01:22 – What’s going on with interest rates?
02:45 – What is the cost of waiting?
03:47 – What is an additional cost, if not more important cost, of waiting?
05:27 – Are mortality credits assured?
06:12 – What are the trade-offs for waiting to purchase a fixed annuity?
07:45 – Why a fixed annuity is important for your retirement portfolio
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LEARN MORE ABOUT: Retirement Annuities

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When it comes to planning for retirement, many people turn to fixed annuities as a way to ensure a steady stream of income for their golden years. Fixed annuities are a popular choice because they offer a guaranteed return on investment and provide a sense of security for retirees.

However, one important factor to consider when it comes to fixed annuities is the cost of waiting to obtain one. The longer you wait to purchase a fixed annuity, the lower the payments you will receive once you do finally invest in one.

One of the main reasons for this is the concept of annuitization. Annuities are essentially a contract between an individual and an insurance company, where the individual pays a lump sum or series of payments in exchange for regular payments over a period of time, usually for the rest of their life. The amount of these regular payments is determined by several factors, including the current interest rates and the age at which the annuity is purchased.

As you age, the insurance company will factor in the probability of you passing away sooner, and therefore the payments they will need to make to you will be lower. This means that the longer you wait to purchase a fixed annuity, the lower your payments will be once you do finally purchase one.

Another factor to consider when it comes to the cost of waiting to obtain a fixed annuity is inflation. Inflation erodes the purchasing power of money over time, meaning that the longer you wait to invest in a fixed annuity, the less buying power your payments will have once you start receiving them.

Overall, the cost of waiting to obtain a fixed annuity can be significant. It is important to carefully consider your options and make a decision based on your individual financial situation and goals. If you are considering purchasing a fixed annuity, it may be beneficial to consult with a financial advisor to determine the best course of action for your retirement planning.