Has affected most Americans It has caused many people to reconsider timelines for retirement and other lifetime funding topics. If your 401 (k) or other retirement investments have been reduced in value what options do you have?
Your options are based on timelines
That may seem like a simple answer to a complex problem but not really Not really I say because the time line needed for any amount of money will dictate available options If your timeline for retirement is less than 10 years then a whole category of safe money exists for you This safe money will never lose value and is always guaranteed to increase in value Many people do not know it exists but it does Your stockbroker will almost never tell you about it because it could mean you no longer use their services and products.
What is this product?
How can a product guarantee to never lose value? How can any product guarantee to only increase in value? Why haven’t I been told about this product?
The products I am speaking about are annuities Not variable annuities sold by the investment sector but good old
Trusty fixed annuities
That earn and credit interest to your retirement account Boring products that make certain you are never exposed to loss and risk
Does this sound too good to be true?
These products contain numerous benefits that allow for control over your funds while at the same time insuring your retirement future.
Available options for interest rates
Many options are available for selecting the interest rate you need and want Even the option of tying the amount of interest earned to an outside source such as the stock market The advantage to you is that you will earn more money when the stock market goes up, if it goes down you will be guaranteed a certain minimum rate. You’ll never lose your investment. You will always be protected from market swings.
Ina addition to protecting and guarantees against loss there are also numerous contractual options available to you These options include:
Tax deferred growth:
You are never exposed to tax liability unless you actually touch the money
Many options exist for designing a retirement plan so the plan will pay to cover your expenses and needs for as long as you live or for any period desired The insurance company shoulders all responsibility for money management and retirement income.
Your account will always avoid probate expenses and delays as long as a beneficiary is selected Funds are delivered immediately without delay of expenses to a named beneficiary.
If your need for retirement is ten years or less consider a portion of your retirement funding to be allocated to annuities They are safe and secure and are free from risk