Retire On Your Terms

Important Questions to Ask When Purchasing an Annuity

As more Americans take charge of planning for retirement, a growing number will consider an annuity as part of their strategy. Before you take this step, IRI suggests asking yourself the following questions:

  1. Am I purchasing an annuity to save for retirement, ensure that I have guaranteed lifetime retirement income, or both?
  2. When do I plan on taking income from the annuity?
  3. How much of my investable assets should I use to purchase an annuity?
  4. What does an annuity guarantee?
  5. What are the fees associated with variable annuities?
  6. What is my risk tolerance?