|
Saving for Retirement
Accumulating enough money for
retirement is a major challenge for most people, however, its
importance should not be underestimated.
Social Security should not be depended upon as the only source
of retirement funds. In fact Social Security may only provide a
fraction of what you will need in retirement.
You can get an estimate of what your Social Security benefits
are currently projected to be at
http://www.ssa.gov/planners/calculators.htm.
Annuities provide a good way to accumulate funds for retirement
and can be used to provide a
guaranteed
income for life.
- Contributions made to a deferred annuity can earn a guaranteed
rate of return
- A deferred annuity may allow you to achieve higher investment
returns because taxes on investment gains are usually deferred as long
as you leave them in the annuity.
- Deferring taxes allows you to earn interest on money that
otherwise would have been used to pay taxes.
When you do retire, the proceeds you have accumulated
in your deferred annuity may be converted to an immediate annuity that can
be used to provide you with a
guaranteed
income for life.
Click here to use a handy calculator that illustrates the difference that
accumulating savings tax deferred could make. | 
