Five Ways Annuities Can Help Secure Your Retirement
July 16, 2024 by Kevin Nuss
MEDFORD, OR / ACCESSWIRE / July 9, 2024 / Here are five ways annuities help people save for retirement and then enjoy a financially secure future once they are retired, according to retirement-income expert Ken Nuss, CEO of AnnuityAdvantage.
1. Your nonqualified savings grow faster with the help of tax deferral–hard to achieve except in an annuity. Nonqualified savings include all your money that is not in a qualified retirement plan, such as an IRA, Roth IRA or a 401(k) plan.
With nonqualified annuities, you pay no tax on earnings or interest as long as you let it accumulate in the annuity. Without federal and state income taxes dragging down your after-tax return, your money will compound faster, giving you a bigger nest egg to tap when you start taking withdrawals in retirement.
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Wink’s Moore on the Market: I think that Ken Nuss missed an opportunity with #2 on this list.
If the client is wanting a guaranteed paycheck for life, it may also make sense to have your IRA in an annuity.
While lead gen, you may appreciate this one… -sjm