What in the Wealth is an #Annuity?

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When planning your Financial Future, also known as Retirement, make sure to diversity your savings and investments. Diversification (having different types) of savings and investments is crucial to ensure that you do not out live your income after you retire, decide to stop working or become unable to work. From IRAs, 401ks, 403bs to cash value life insurance policies and stocks; there are several ways to build wealth for your future.

An Annuity is also a way to diversify financial future savings as well. Annuity comes the Latin work “annus” meaning annually or yearly. An Annuity is an insurance product that insures an income payout and is usually used as part of a retirement planning strategy. Although “Annuities are a popular choice for investors who want to receive a steady income stream in retirement,” it can compliment any person’s financial future and retirement savings based on their desired outcome and strategy.

For a better understand of Annuities, check out my interview with Prince Dykes on his YouTube show “The Investors Channel.”

Just like with any other financial vehicle, there are pros and cons. One size does not fit all when it comes to financial planning. Therefore, it is always best to consult with a financial professional, insurance agent or financial advisor to determine the best strategy for your situation.

Click here for more cool videos about Annuities, then feel free to connect with me for chat about how or if an Annuity may work for your financial future savings strategy.