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10 Best Tips – How to Buy And Sell Annuities

4 5 1
09.09.2021

Who doesn’t want a guaranteed income stream to gather the litter of your crushed retirement plans? But, some annuities offer financial safety. Stan Haithcock, renowned as Stan The Annuity Man states, “Saying you hate annuities is like saying you hate all restaurants.” So, let’s dive in to learn a few important things about annuities.

Annuities can produce an income stream you can’t outlive.”

It’s a contract with the insurance company that binds both the company and the annuitant into unbreakable contractual obligations. Upon breaching the policies, a high penalty cost is liable. The contract revolves around specific goals like legacy planning, lifetime income, long-term care costs, and principal protection cost.

Troy Bender, CEO at Asset Retention Insurance Services, states, “Annuities have been around for centuries,” He further shared that in Ancient Rome, a single payment method was used. People used to get annual lifetime payments on a single payment. Even in those days, there was a concern for the retirement plans. Furthermore, in the U.S., people are more interested in annuities than in pension plans.

The major reason for getting an annuity is the guarantee it provides. The income is measured through your life expectancy. So, no matter how long you live, you will have stable financial safety. Apart from this, if you have maxed out your financial tool like 401 (k) or IRA, getting an annuity will prove favorable. It offers a better tax-sheltered program to save your retirement.

In addition, it does not place any limit on contribution. So, you get the freedom to save up to whatever count you can. Furthermore, as you get the surety of getting your amount altogether in the end, you can work on an aggressive investing strategy and take challenges more confidently.

As a business owner, it is an eCommerce store like eWorldTrade or any other business model; you can get many perks by having the annuity. By getting a retirement plan for your company, you can save the future of both yourself and that of your employees. You can have a lifetime income guarantee.

As you know that the amount you contribute to your annuity account is tax-deferred, which means if you take up the plan for your business and withdraw the amount, you can attain a higher value. When the amount is not deducted, there will be more potential earnings available for you to benefit from in terms of a higher contract value.

In many annuity plans, if the owner dies, the amount is transferred to the beneficiaries before the plan starts. If the plan has started and the owner dies, then the policies will best describe how the money will be utilized.

You can divide the annuities into individual retirement accounts. For instance, you can use two accounts,........

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