How Do Fixed Annuities Work For Retirement Savings

Why Do Annuities Matter?

With all of the current news about market accounts dropping, and the dismal interest rates paid by bank CDs or savings accounts, people are looking for an alternative in order to save for retirement. An alternative would be save, guarantee some rate of return (or at least, that value will not be lost), and it would return better interest rates than most banks do. That is where annuities may help. You can also get more info here: explain annuities.

How Do Annuities Work For Retirement Savers?

Note: For this discussion, we are talking about fixed annuities, or those sold by insurance companies and agents. Variable annuities are riskier, and while they may promise greater returns, they are outside the scope of this article, and my expertise!

Who Are They Good For?

Annuities are good for savers with a medium to long term savings goal in mind, and for those who can commit to that goal. They are also used to provide a guaranteed payout over some span of time. This time period could be from several years to lifetime payouts.

Types of Fixed Annuities

An immediate annuity accepts a lump sump cash contribution, and then [...]

September 22nd, 2009 | Tags: , , , , | Category: Annuities | One comment

Lower Homeowners Insurance Rates Without Sacrificing Top Coverage

Buried Under High Insurance Bills?

I wonder if all of the new stimulus bill homeowners considered the cost of coverage when they calculated their monthly expenses. I know that attractive mortgage payments are usually jacked up by as much as 1/3 when taxes and insurance premiums are added in as part of a monthly bill to pay. This article got me thinking about it: first time homeowners insurance policies. Add the new cost of insuring a house to existing auto, health , and life bills, and it can feel as if a large chunk of money goes to some insurance company every month!

Tips to Lower Homeowners Insurance Rates

If you are struggling with your bills, or even if you would just like to shave some of them so you can save more money every month, it may be time to analyze your policy. Besides, experts tell us we should evaluate all of our coverage every year or so. Our circumstances change, and so does the market from which we purchase policies.

Shop Around – Understand that insurance policies are local. Not all companies do business in every state, county, or zip code. Furthermore, rates are also set by [...]

September 13th, 2009 | Tags: , , | Category: Home Insurance | One comment