When it comes to growing and preserving wealth, it’s important to bear in the mind the volatility of the markets and how it could impact your retirement income. Fortunately, there are ways to help shield your savings from market woes. Designed to protect, grow, and provide a guaranteed stream of income is an annuity. Align yourself with less risky investment vehicles such as these that can offer upside potential and protection against the downswings. Here are some additional potential advantages to mull over:
• It creates an income floor that you can’t outlive, regardless of how long you live or how the markets perform.
• It can help cover essential expenses that Social Security and any pension payments may not.
• It grows tax-free up until your retirement.
• It can generally yield higher returns than other low risk investments, such as CDs, money market accounts, or bonds.
• It can offer more risk-taking for potentially better returns.
• It can provide a death benefit to have your income payments or account value be passed onto your beneficiaries.