Why annuities could be an especially good deal for women
November 13, 2019 by Paola Peralta
Welcome to Retirement Scan, our daily roundup of retirement news your clients may be talking about.
Why annuities could be an especially good deal for women
Women save less but live longer than men, making fixed annuities a good strategy to secure their retirement, writes an expert in Kiplinger. The products, he writes, provides guaranteed lifetime income. A fixed annuity also offers advantages that “help women build savings faster: tax deferral and generally higher rates than CDs or Treasurys with a comparable term. Without taxes, savings can grow faster. Fixed annuities are a valuable supplement to IRAs and 401(k)s,” he writes.
The greatest threats to clients’ retirement
Support for adult children, maintaining an oversized house and carrying a mortgage in retirement are some of the major risks that clients should avoid if they want to secure their golden years, according to this article in Yahoo Finance. Giving away too much cash, rising medical costs, taking 401(k) loans and incurring long-term care expenses can also put a client’s retirement at risk. The same is also the case for those who need to look after their aging parents and adult children, make minimum contributions to their retirement plans and withdraw their 401(k) money every time they leave their jobs.
Click HERE to read the full story via Financial Planning.
