As we move into the final months of 2024, more people are looking for secure ways to grow their retirement savings, and annuities are often at the top of the list.
But with so many options out there, how do you decide which annuity fits your needs?
In this blog post, we’ll go over three of the top-rated annuity providers in 2024.
Let’s dive in!
The 3 Best Annuities in 2024
Fidelity
When it comes to picking the best annuities, you want to consider the company’s reputation, financial strength, and the specific features each product offers.
Fidelity, known for its strong customer support and comprehensive annuity products, remains a popular choice for 2024. They provide flexible deferred annuities that let you manage how and when you’ll receive payouts, a crucial feature if you’re not ready to lock yourself into a rigid plan.
New York Life
New York Life stands out with its long history of stability and its selection of fixed annuities.
Fixed annuities offer predictable returns, ideal for conservative investors who prioritize stability over higher potential growth.
Their flexible premiums and simple-to-understand payout structures make them a solid option for risk-averse retirees.
Athene
For those willing to take on a bit more risk in exchange for higher growth potential, Athene’s index annuities are making waves. Index annuities tie your returns to a stock market index, offering a blend of growth and protection.
This type of annuity can outperform traditional fixed products while still limiting your downside risk, making it a favorite for the more growth-oriented investor.
Making the Right Choice
The number one thing annuity-seekers should consider is that they are not a one-size-fits-all solution.
While some retirees may prefer the peace of mind offered by a fixed annuity, others might want to pursue a variable or indexed product to tap into market-driven returns.
The key will always be balancing risk tolerance, income needs, and long-term financial goals.
Before You Go…
Lastly, before making any decisions, be sure to review each provider’s offerings carefully. Annuities can be complex, but with the right research, you can find the one that matches your retirement vision.
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