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Good Time to Purchase an Annuity


Annuity News Journal’s Daniel Trindle says that this is a great time for many investors to purchase an annuity.  In the article, “Is This The Time to Purchase an Annuity?,” Trindle says that the right annuity can finish your retirement portfolio and give you a secure future.  There are many things to look into before purchasing an annuity like your risk tolerance, age, and how many more years you plan to work.

Typically, annuities are used to finance retirement and provide the peace of mind that comes with a guaranteed source of lifetime income.  They can also be used in other ways.  There are flexible annuities that can be paid out periodically to younger investors, maybe for starting a business and taking money out for that every now and then.  Many variable annuities give you an investment similar to securities.  Investors can get a guaranteed minimum return while maximizing their return in the market.

It is still most common to use annuities for retirement purposes and it’s important to determine when is the best time to purchase your annuity.  Buying an annuity after a recession can help you lock in your gains and not worry about any volatility as the market recovers.  By deferring your annuity until you need it in retirement, your money will grow untouched and tax-deferred.  Annuity rates are among the highest offering the greatest long term investments right now, after a high during the recession.  People with expendable savings and investors nearing retirement would be well-served to purchase an annuity.

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