How do I know if a fixed deferred annuity is right for me
You should think about your goals for the money you put into the annuity, and how much risk you're willing to take.
Ask yourself the following questions.
- How much retirement income will I need in addition to what I'll get from Social Security and my pension?
- Will I need that additional income only for myself, or for myself and someone else?
- How long can I leave my money in the annuity?
- When will I need income payments?
- Does the annuity allow me to get money when I need it?
- Do I want a fixed annuity with a guaranteed interest rate and little or no risk of losing the principal?
Do I want a variable annuity with the potential for higher earnings that aren't guaranteed and the possibility of losing principal?
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