When saving for retirement, there are a few questions to ask yourself to see if a variable annuity is right for you. Even though they have taken some hits in this bear market, TheStreet.com shared 6 scenarios where a variable annuity can be right for your retirement plans.
- You’re looking towards the long-term and won’t need your money before you plan to retire
- Any 401(k)’s or IRA’s that your company sponsors have been maximized with contributions
- You are able to take advantage of the tax-deferral in regards to the investment growth; most important for those in a high tax bracket with six plus years to retirement
- Securing your savings from court accessilbilty is important to you
- You have a trusted financial advisor or believe that you can make appropriate market decisions with your finances
- An emergency fund with available assets is at your ready
If these situations apply to you contact an expert to help you establish a variable annuity.