Retirement Planning: Annuities for lifetime and beyond | The Finance World
Planning for retirement is not just about accumulating assets; it’s about ensuring a steady income to sustain your lifestyle once your regular paychecks stop. In a recent article on The Financial World website, Anselm Mendes, Executive Director - Sales at The Continental Group, explores how annuities can play a crucial role in your retirement strategy.
"How much money do I need to retire and sustain the existing lifestyle and spending habits?"
This question haunts many as they approach retirement. While saving and investing are vital, they alone may not provide the financial security you need. Annuities offer a reliable income stream, turning your savings into a predictable and steady cash flow.
Annuities come in various forms and can be tailored to suit different needs and risk tolerances. Fixed annuities provide stable returns regardless of market conditions, while variable annuities link returns to market performance. Deferred annuities, which grow on a tax-deferred basis until you start receiving payments, are particularly beneficial for long-term retirement planning. Additionally, modern annuities come with flexible options such as inflation riders, early withdrawal benefits, and more, making them adaptable to your changing needs.