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Annuities Provide a Secure Future in Retirement

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IRAs and 401Ks may be the best ways to plan for retirement, but they have their limits, mainly in how much you can contribute to them. If you've grown accustomed to a certain standard of living, the last thing you want to worry about in retirement years is your budget.

If you invest in an annuity, retirement savings don't have to be limited. Long after you've maxed out your contributions to IRAs and 401Ks, you can still purchase annuities, guaranteeing a steady flow of cash that you can depend on.

Many people fear outliving their savings in retirement, for good reason. If your savings run out, where will you turn? Living too long isn't something you should have to worry about. With an annuity, retirement payments will continue to come in throughout your life, no matter how long you live

Nearly 10 million people facing retirement today are purchasing annuities. It guarantees a reliable flow of income or provides a nice safety cushion for unexpected expenses.

Of course, there's always the possibility you'll end up better off financially than you planned. Maybe you'll have more than enough savings to live comfortably, and prefer the annuity in a lump sum in order to invest in a dream home or buy a boat. Just a few years ago if there was no market for it, you'd be stuck with that annuity. Sell an annuity would have been previously impossible. You were pretty much stuck with it.

Fortunately, that's no longer a problem. The rules and markets for annuities have changed. A secondary market now exists. If you no longer need the annuity, sell it. More and more people are doing it, with new annuity sales now topping $200 billion a year. Annuities are now sold as asset backed securities to big institutional investors.

You may want the money for other investments or you may need a quick stream of cash due to a financial emergency. Either way, you are never stuck with your annuity, as a market with considerable demand exists where it is as good as cash.

An annuity is a solid nest egg to depend on. It provides a lasting financial security, in addition to a guarantee you won't outlive your savings. Plus, it is a valuable commodity, easily traded in for cash if you need it. Annuities are safe ways to hedge your best against the financial pitfalls of retirement, guaranteeing you can continue to enjoy your life with the income you've become accustomed to.

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