Annuity purchase is recommended for consumers with retirement fund

Consumers who belong to a retirement fund are encouraged to take annuity to ensure that they have sufficient money for when they stop working. Many retired people are battling to cope with the escalating cost of living such as food, medicine and transport, as people continue to live longer. Retirement annuity has some tax benefits aimed at encouraging more people to save towards having a comfortable life after leaving work. Naledi Matlapeng reports For more news, visit sabcnews.com and also #SABCNews on all Social Media platforms....(read more)

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Many individuals who have saved for retirement may find themselves overwhelmed with the decision of how to utilize those funds. While there are many options available, one popular choice is purchasing an annuity. An annuity is a financial product that provides a guaranteed stream of income for a specific period or for the duration of the person's life. Annuities can be purchased from insurance companies and come in a variety of forms, including fixed, variable, and indexed annuities. Consumers with retirement funds are encouraged to purchase annuities for several reasons. One of the main benefits of an annuity is the guaranteed income stream it provides. This can provide peace of mind for retirees who may be concerned about outliving their savings. Additionally, annuities can offer tax advantages. Annuities are typically tax-deferred, meaning the earnings aren't taxed until they're withdrawn. This can be especially beneficial for those in a higher income tax bracket. Another advantage of annuities is that they can serve as a hedge against inflation. Fixed annuities typically have a set rate of return, but indexed annuities and variable annuities may increase their payout based on market performance. This can help retirees keep up with rising costs of living. It's important to note that annuities aren't for everyone and there are downsides to consider. For example, annuities are often associated with high fees and surrender charges for early withdrawals. Additionally, annuities can be complex financial products that may require professional advice and due diligence. Overall, consumers with retirement funds may find that purchasing an annuity can provide a stable and predictable source of income. However, as with any financial decision, it's important to carefully evaluate the pros and cons and seek professional advice before making a commitment. https://inflationprotection.org/annuity-purchase-is-recommended-for-consumers-with-retirement-fund/?feed_id=105862&_unique_id=6482de291d3fa #Inflation #Retirement #GoldIRA #Wealth #Investing #actuality #localnews #SABCNews #worldnews #RetirementAnnuity #actuality #localnews #SABCNews #worldnews

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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