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retirement annuityAnnuities are labeled as a source of retirement income. Commonly referred to as an individual's personal and portable pension fund, retirement annuities are not unlike 401(k)'s through which a portion of your income is put aside to be received once you are retired and no longer receiving a monthly paycheck. As it is, retirement annuities are better than 401(k)'s because they offer tax-deferred growth.A retirement annuity provides a dependable form of financial security to escort you into the twilight years of your life. For anyone who fears that their poor spending habits will cause them to plow through their savings over a relatively short timeframe, a retirement annuity offers the option of spreading the annuity distribution out over the course of a specified timeframe or to receive a lump sum payment. When thought of in this manner, a retirement annuity is not too different from a pension. One of the catches with a retirement annuity is that a retirement annuity policyholder cannot gain access to their policy until they are in fact retired (Between the ages of 55 & 70) or suffer through the unfortunate ness of disability or death. Because of this, it is recommended that some form of liquid account be maintained so that you can have ready access to money. Annuities serve as retirement income. Check out a complete list of ANNUITIES |
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