Increasing Your Income With a Retirement Annuity

When you purchase a retirement annuity that is suitable for your personal situation and needs, you will realize that it is a very practical way to ensure your retirement security. This is because it will provide you with a regular source of income that life insurance products similar to this generate. These products are vital to the person who is retiring because most people are not confident that they will be financially stable once they retire. Senior citizens now expect a longer life span so having this insurance will ensure that you do not run out of money when you live up to 30 more years after you retire. Consulting a company like Puritan Financial Group can help assist you in getting you prepared for retirement.

Survey Results

Research shows that retirees who get their income from guaranteed sources such as pensions and annuities were found to be happier and more comfortable compared to fellow retirees who receive their income from riskier forms of investments such as stocks. In a study conducted by the MetLife Mature Market Institute Research, it was found that at least one stable source of income is needed for a senior citizen to achieve a certain level of comfort. This is true regardless of the senior citizen's financial status. With the breakthroughs in medicine, people can expect to live longer so the study is important as it might impact how we spend our money today.

Deferred annuities are usually best for those who are decades away from retirement, as they can make the most out of their money if they do not withdraw from the annuity until it matures. If you are a few years away from retirement or already retired, you may find immediate annuities best for your financial needs and objectives. These annuities can provide the investor with income soon after the initial investment has been made. If you buy into a variable immediate annuity you can receive larger earnings than you would from conventional annuities if its investments perform well, and are sure to receive a guaranteed minimum if the investments or the market falters.

Easy and quick solutions to insufficient savings may not be attainable all the time, but retirement annuities from reliable providers like Puritan Financial Group, should be able to further solidify your investment portfolio. When you place your money in a retirement annuity, you will gain many benefits such as reducing your risk by diversifying your portfolio, avoiding the chance of losing your investments because of the product's nature, and generating an additional source of income to add up to your assets and make it last as long as you live.

Puritan Financial Group provides life insurance for seniors, as well as retirement annuity products that can help them build bigger and stronger nest eggs. For more information on how Puritan Financial Group can help you, please visit our website at http://www.puritanlife.com/products/annuities.

Source: http://ezinearticles.com/6401113

2011 nba draft minecraft burn notice xanax knicks futurama futurama