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Planning properly for a secure retirement takes a sincere dedication to using one's assets and managing one's wealth in a careful and prudent manner.
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Planning properly for a secure retirement takes a sincere dedication to using one's assets and managing one's wealth in a careful and prudent manner.
Stalling on pay out from a Social Security greatly enhances the amount of money by allowing it to grow by a significant amount. Also, a married couple could work together to stall the Social Security benefits in order to together achieve a much higher payout.
Investing in an immediate annuity provides for the security of having a specific amount of money every month for the rest of your life.
However, the catch is that this money is no longer available for investments in order to keep pace with inflation and growth. Also, this money is no longer available to leave to heirs.
Investing in a deferred annuity, or longevity annuity, allows one to put less money up front than an immediate annuity since one waits longer to start receiving payments from it.
The only problem one might consider with this is that one could lose out on the money invested if one passes away before the deferred annuity term starts.