Indexed AnnuitiesIntroducing Indexed Annuities from the
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Use an Annuity for Retirement PlanningAnnuity retirement planning is a good way to provide a stream of income for retirement. Consider an annuity to be insurance against living too long, thus outliving your retirement funds, while life insurance is insurance against living too short.The ideal annuity buyer is 55 or older and near retirement. Annuities are less attractive to younger investors because there is a 10 percent penalty tax if you withdraw money before age 59½ for reasons other than death or disability. Many people who have already retired and need an annuity in retirement opt for an immediate annuity. An immediate annuity skips the accumulation phase and begins to issue payments as soon as you invest in the contract. The ideal annuity buyer is also a person who has already contributed the maximum amount to their existing tax-deferred retirement plan, such as a 401(k), 403(b), or IRA. That's because you are already building up tax-deferred money in those plans, and the fees associated with those savings vehicles are usually much lower than those of an annuity for retirement.
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