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Retirement Annuity –Live and Enjoy the Golden Years Post Retirement

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by: No more debt !
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Date: Wed, 3 Aug 2011 Time: 10:43 PM
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Planning your retirement often poses a number of challenges, the most essential being securing your finances. If you have been a keen follower of business news or financial schemes then, you must have heard of Annuity – the schemes offering life changing benefits post retirement. True to a large extent, these financial schemes enhance the chances of increased monthly income post retirement. To reap the benefits better and to increase the cash income during your later years, you can consider investing in a Retirement Annuity.

Well, the very mention of this particular Annuity option post retirement must have trickled your mind to explore the opportunity better. Here is help at hand, this article aims at answering all your questions related to Retirement Annuity -

‘What is a Retirement Annuity' is a potential question asked by you and answered by us –

To explain in simple terms, this annuity option refers to an investment plan that works on the principle of paying the retiree a certain amount of lifetime annual income post his retirement in return of the amount paid by him for the investment. This scheme works in a similar pattern to standard annuities and has come up as an ideal alternative to other retirement sources like IRA and 401K plans. The plan of obtaining annuity post retirement usually works like insurance policies.

Why Should I opt for a Retirement Annuity over the standard Annuity?

It is always best to consider your options before investing on the final plan. In addition, when it comes to annuities, the choice always stands between these two plans. Here is a look at some of the benefits or advantages of the annuity plan focusing on post retirement than the other general ones –

    • This scheme offers excellent tax- deferment policies, though not complete tax-exemption

 

    • This scheme provides the retiree with guaranteed income (monthly, quarterly, or yearly)

 

    • This scheme can be tailor made according to your needs, interests, and preferences

 

    • This scheme are never affected by market fluctuations and offers the fixed payment

 

  • This scheme also comes with the option of survivor benefits


In addition to all these above-mentioned benefits, it should also be stated that your income accelerated through this particular scheme is entirely dependent on your retirement. The moment you retire, you will start receiving checks based on your period. In some cases, the income post retirement often surpasses your regular income.

It is advisable that before, you take any final decision always consult the professional in the field. You can also sit with your personal financial advisor and understand the terms and conditions of a particular retirement annuity plan better. It is certain that a professional in the field can guide you towards ideal decision concerning the possibilities of your retirement planning.

About the Author

Mike Anderson is a business consultant who has good information on annuity and retirement annuity. For more information visit http://www.immediateannuities.com/


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