An income annuity can convert part of your savings into a retirement “paycheck” to help pay for things like your food and housing costs.
Consider adding an income annuity to your retirement strategy if you:
What kind of “paycheck” can you get?
With an income annuity, the factors below will determine the amount of income you may get for your money:
- Your gender and age
- The amount you pay for your income annuity
- When you need your income to start – now or years from now
- How long you need your income to last – for life or a set number of years If the income is just for you or your spouse as well
Thinking of adding an income annuity to your retirement strategy?
Talk to your financial professional today to see which type of income annuity makes sense for you.