Are Fixed Annuity Rates a Good Idea?

Fixed rate annuity options are a great resource for those nearing retirement. An annuity offers cash flow stability in a time of great change. It’s an insurance product rather than a traditional investment opportunity, and as a result, the focus of annuity output is on stable dividend payments rather than principal growth rates.

Fixed annuity rates offer savers a unique structure for their retirement planning goals. Annuities offer unbeatable stability over the long term: Instead of investing in stocks and other commodities that are designed to introduce growth (and perhaps a revolving set of quarterly dividends that end up paying out on a monthly schedule), you can bring on fixed annuities that are calculated on a guaranteed payout rate rather than projected values. Annuities operate as a midpoint between bonds and other low-return, guaranteed fiscal products and the high value (and higher risk) investments that come to dominate early- and mid-career financial planning.

A fixed annuity is likely a worthwhile financial product for you and your retirement planning as you get closer to your last day in the workforce. These offer some of the best stability, and with the help of a provider, you can calculate the exact figures you need to make your retirement a success. Continue reading to learn more about what these financial and insurance products can do for you and your monetary goals.

Annuities provide a bedrock for long-term financial wellness.

Many people don’t realize that retirement planning should start almost as soon as you enter the workforce. Building the financial stability that’s required to maintain your lifestyle after you stop working takes years of careful planning. An annuity is a great asset in this goal. For those who’ve been working diligently for many years to contribute to company goals, personal financial needs, and more, the addition of an annuity to your Social Security checks, pension funding, and other assets can help you to boost overall fiscal confidence in a number of ways. One thing that these assets can provide is the ability to hold off on receiving retirement benefits from the federal government, even if you’ve decided to leave the office earlier than the full retirement age.

By pushing this back by a few years, you can bring in greater payouts from your Social Security checks that will allow for more mobility as a retired person who is no longer drawing a salary. With the help of a fixed rate annuity, you can count on the guaranteed income level that your insurance product provides, making these decisions a whole lot easier and your overall financial well-being far better off as a result.

With an annuity plan, you can develop a lasting strategy that will continue to pay you an income many years into the future.

The guaranteed payout is the main draw here. Those who’ve been saving for many years to provide for themselves and their needs in retirement gain a valuable income addition with the purchase of this product. For others who haven’t prioritized long-term investments, a fixed-rate annuity offers the ability to lock in guaranteed income that will support a healthy and happy lifestyle, even though other assets haven’t been put into place.

These products are unique in their ability to help both long-term and late-notice planners make the most of their retirement, regardless of their approach to saving and investment opportunities in the past. The truth is that most Americans these days haven’t built a cohesive plan to tackle even a $1,000 emergency spending need without relying on credit, so the addition of this backstop is a necessity in the modern world.

An annuity can help you gain the confidence needed to retire on your own terms. Consider adding this product to your savings portfolio today.

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