In what ways does an annuity benefit you? This is an important question that needs to be answered before you buy one.
Besides offering a steady and guaranteed stream of income, annuities accumulate tax-deferred over time and don’t have contribution limits like 401(k)s and IRAs. Additionally, annuities offer riders that allow money to be transferred to beneficiaries at death.
But, did you also know that annuities can save you money. Like I’m talking about thousands of bucks here. How? Well, it’s possible if you make the most of these 10 annuity tips.
1. Don’t Get Talked into a Variable Annuity Contract
The commissions on most annuity products are huge. And, this is most true with variable annuities. Because of this, they may push you into purchasing a variable annuity.
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