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An annuity is a tailored insurance product that’s offered by life insurance companies. It has many of the same tax advantages of a 401(k) or traditional IRA. Your money grows tax-deferred and you can take tax penalty-free withdrawals after age 59 1⁄2. Annuities have other benefits you won’t find in a 401(k) or an IRA.

"Annuities generate streams of income you can’t outlive." man and woman seating on gray hammock beside trees during daytime

Annuities generate streams of income you can’t outlive. Immediate annuities convert your savings into an immediate income stream that can last a lifetime and are guaranteed by a life insurance company. A fixed deferred annuity allows your premium the opportunity for growth prior to the guaranteed income stream beginning.

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With fixed annuities, you are guaranteed to get back your initial premium amount. Fixed annuities offer no downside market risk and pay a fixed interest rate every year.

 

For more information about this topic, view our e-book here: https://retirekit.theretirementgroup.com/401k-rollover-strategies-ebook-offer


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