In today’s world, we want tomorrow’s results today and next year’s results this coming week.
Go, go, go just like the movie Fast & Furious. We also want our money to work like that! Greed is always sliding in there to help push this thought process along as well!
This is one reason a Fixed or Fixed Indexed Annuity may fit part of your portfolio! Remember the rabbit and the turtle racing each other? Well, we found out that the turtle was slow but steady and the rabbit was fast & furious but soon pooped out with the turtle easily passing the poor worn out rabbit by.
This is how annuities are an advantage! Just think, you have a product with return and a contract with an insurance company promising a very predictable outcome if you don’t change the variables! The fantasy of high returns is not what an annuity is all about, instead it is about the long term results and when necessary a predictable income from the annuity.
So here are some important questions to ask yourself when thinking about annuities!
- What is my risk level for my investments and retirement money in general (safe, moderate, or high)?
- How diversified am I right now?
- What will I need in income when I retire?
- If retired, what can an annuity do for me now especially with inflation?
- Will more tax deferral growth help my finances?
- Have I lost money in the market?
- Do I understand the types of annuities and how they work?
- How do I find an advisor who will shoot with me straight?
Well, the last question is the most important. An advisor who only wants to know how much you have and not help you plan is probably product driven and may not be your best choice.
To learn more from this educator, click here (Chris Raup).
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