Annuities can be used as part of your retirement planning strategy in Lenoir.
If you have been looking at different retirement strategies, you may have heard the term “annuity,” but don’t have a clear picture of what it is. At Prime Benefits Insurance, we can answer your questions about annuities, beginning with their basic definition.
Annuities can be used as part of your retirement planning strategy, in which you save money from your income while working, and then your annuity “pays” you based on the amount you saved after retirement. An advantage of an annuity is that it can help you maintain a stable income after retirement, rather than having to manage lump-sum payments from an employer-sponsored retirement plan. Annuities can also help you manage withdrawals from your other investment or retirement accounts by helping you budget for your expected expenses.
It’s important to remember that there are many different types of annuities, and at Prime Benefits Insurance, we can help you navigate your options so you find the right annuity and understand any tax implications. As we build a relationship with you, we will always be available to address your changing needs, provide insurance coverage and solutions that match your budget and life goals, and give you confidence that your retirement planning is well under way.
At Prime Benefits Insurance, we find that annuities can be a great choice for individuals and families in a variety of different situations. What’s most important is having a trusted team to provide guidance and reassurance as you make your choices. Contact us today if you have questions about annuities, or if you would like more information about insurance and retirement planning in Lenoir, North Carolina.