Support your Retirement with an Annuity Plan

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Robert Maddy Cooks has 89 Published Articles

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Support your Retirement with an Annuity Plan

Posted On : Jan-04-2012 | seen (581) times | Article Word Count : 440 |

Read this article to know how you can comfort your retired life with the annuity schemes available to you. This article will provide you detailed information about various retirement annuity schemes through which you can stable your future financial condition.

Have you ever thought of your retired financial life? Whenever you think of your life after your retirement, you will find that there must be a lack of financial support unless you have a huge amount of money as your savings. It is evident that you would not be able to earn on your own to support your financial needs. The physical ability will not be the same as it was on your younger days. Therefore you have to think of something else to support your retired financial life from your younger days. In such cases, you can have the opportunity to invest in any retirement annuity plan to support your retired life financially.

An annuity is a financial contract with an insurance provider where the applicant is required to give the insurer a lump sum of money as the premium amount and in return, the insurance company will offer a series of payments on a monthly, bi-monthly, quarterly or yearly basis. The amount can also be taken as a lump sum after a certain period of time. The best thing of this scheme is that there is no tax deduction at the time of the contract commences which means that you don’t have to pay any taxes if you invest in this retirement scheme in your younger days. However it is to be noted that when you are going to withdraw the amount from the insurance company, you have to pay proper taxes before you receive your money from the retirement annuity scheme.

There are different annuity schemes available in the market. Among them, there is a basic classification to group these retirement schemes. They are fixed annuities and variable annuities.

Fixed annuities: This type of scheme will provide you a fixed amount of income after a certain period of time. The amount you receive will be dependent on the total sum of money as well as the rate of interest at the time of the contract.

Variable annuities: Under this scheme, you can have the opportunity to get more benefit from the higher interest rate of the market. But this type of investment has also some risk factors included to it as if the market crashes, you will also get lower amount of money for your annuity return.

In short, it can be said that if you are willing to secure your future, you have to invest in the retirement annuity scheme. However you have to pick the best available scheme to comfort your retired life with the help of expert financial advisors.

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<h1>Support your Retirement with an Annuity Plan</h1> Author: <a href='http://www.articleseen.com/profile_Robert Maddy Cooks.aspx'>Robert Maddy Cooks</a> Have you ever thought of your retired financial life? Whenever you think of your life after your retirement, you will find that there must be a lack of financial support unless you have a huge amount of money as your savings. It is evident that you would not be able to earn on your own to support your financial needs. The physical ability will not be the same as it was on your younger days. Therefore you have to think of something else to support your retired financial life from your younger days. In such cases, you can have the opportunity to invest in any retirement annuity plan to support your retired life financially.

An annuity is a financial contract with an insurance provider where the applicant is required to give the insurer a lump sum of money as the premium amount and in return, the insurance company will offer a series of payments on a monthly, bi-monthly, quarterly or yearly basis. The amount can also be taken as a lump sum after a certain period of time. The best thing of this scheme is that there is no tax deduction at the time of the contract commences which means that you don’t have to pay any taxes if you invest in this retirement scheme in your younger days. However it is to be noted that when you are going to withdraw the amount from the insurance company, you have to pay proper taxes before you receive your money from the retirement annuity scheme.

There are different annuity schemes available in the market. Among them, there is a basic classification to group these retirement schemes. They are fixed annuities and variable annuities.

Fixed annuities: This type of scheme will provide you a fixed amount of income after a certain period of time. The amount you receive will be dependent on the total sum of money as well as the rate of interest at the time of the contract.

Variable annuities: Under this scheme, you can have the opportunity to get more benefit from the higher interest rate of the market. But this type of investment has also some risk factors included to it as if the market crashes, you will also get lower amount of money for your annuity return.

In short, it can be said that if you are willing to secure your future, you have to invest in the retirement annuity scheme. However you have to pick the best available scheme to comfort your retired life with the help of expert financial advisors.About the Author: Robert Cook is a business consultant who has good information on <a rel="nofollow" href="http://www.immediateannuities.com/">retirement annuity</a>. For more information on <a rel="nofollow" href="http://www.immediateannuities.com/">annuity</a> he recommend you to visit <a rel="nofollow" href="http://www.immediateannuities.com/">www.immediateannuities.com/</a>. Article Source: <a href='http://www.articleseen.com/Article_Support-your-Retirement-with-an-Annuity-Plan_128454.aspx'> http://www.articleseen.com/Article_Support your Retirement with an Annuity Plan_128454.aspx</a>

Article Source : http://www.articleseen.com/Article_Support your Retirement with an Annuity Plan_128454.aspx

Author Resource :
Robert Cook is a business consultant who has good information on retirement annuity. For more information on annuity he recommend you to visit www.immediateannuities.com/.

Keywords : annuity, retirement annuity,

Category : Finance : Investing

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