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Does anyone have experience in purchasing annuities? What kind of returns are out there right now. Just trying to learn more about this. Anyone have ideas?
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If you're speaking of SPIA, take a look here:
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If you are looking for a return on investment, then annuities are generally not going to be in your interest. Look at IRAs, 401ks, HSAs, etc.
There are two kinds of annuities: variable and fixed.
Fixed are terrible and are not better than money market mutual funds.
Variables can be good and can offer a good rate of return. However, they usually have a lot of fees attached to them. Only go for variable annuities once all other investment options have been completely exhausted.
A very common strategy with annuities is to use them as a protectionary product. They're existence is largely to turn large sums of money into streams of cash flow, and also to provide protection for people who outlive their expected life span.Check out my new website at www.payczech.com !Comment
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There are different kinds of annuities.
Here's a link to the SEC website about them to learn a little bit: Annuities
And here's a link to an Investopedia link about them: An Overview Of Annuities
What has you interested in annuities? Are you nearing retirement?Comment
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You can purchase an annuity in two ways:
Make one lump-sum payment to purchase a single-premium annuity. If you want to contribute more money at a later date, you will have to purchase another annuity.
Make ongoing contributions to a flexible-payment annuity. You can contribute money at regular or even irregular intervals anytime you want.Comment
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