Medicare Supplement Store Blog
Are you one of the millions of Americans who have an annuity? If so, did you know that you can turn that annuity into a pension? It's true! In this blog post, we'll discuss how to turn your annuity into a pension and what the benefits are.
Adding Stability to Your Finances For Retirement
The typical retirement model is unsustainable. With less than 5% of businesses giving pensions to new employees, individuals are more concerned than ever about their future security. The 401(k) now replaces employer pensions. Unlike pensions, 401(k) lacks assurance and stability.
Some may have savings and investments or investments such as life insurance, checking, bonds, etc. However, it may not be enough to support you and your family in the future. That's where annuities come in. Although an annuity cannot be used as a personal pension, you can consider it a fixed retirement revenue. Your insurers' payments can be made for a certain length of time or for life.
Annuity Growth Potential
Your life insurance company can sell you an annuity. And you have the option to pay in one big sum or installments. The annuity has tax-free growth till withdrawal. And also provide:
You can also turn your annuity into a secure retirement fund since it functions like Social Security.
Changing Our Perspective on Annuity
Consider annuities as personal pensions, not financial products. The annuity's secure payout should be your main emphasis, not the investment return. Start saving for that annuity now. Remember, this is for life. Something you may use to help pay for important retirement expenditures.
An annuity isn't only for retirees. It might also be part of your pension plan if you set aside money for annuities. This guaranteed retirement income can help you have the financial security you need later in life.
At Medicare Supplement Store, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (732) 252-8828 or Click Here to request a free quote. The coverage discussed is not guaranteed. Please contact our agents to make sure you have adequate coverage and your needs are being met. We are happy to help!