Feeling confused about retirement choices? – St George News
Stock image | Photo by Ridofranz/iStock/Getty Images Plus, St George News
FEATURES — With COVID-19 still looming in the rearview alongside other many other catastrophes and worries, what issues currently confront the United States economy?
The answer is multi-level but can be summed up as:
- The collapse of an economy (potential).
So where are your important retirement dollars safe?
If you have a fixed/indexed annuity, your money is still protected. Think of the simplicity the annuity brings to life: no fees, no loads, no market risk. It is not stocks, bonds or mutual funds, which rely on fluctuating investment trends. It’s dependable fixed/indexed annuities that will fund baby boomer retirement.
Stock image | Photo by Motortion/iStock/Getty Images Plus, St George News
Safety is not an issue with fixed annuities. The insurance company doesn’t borrow money to make risky or speculative investments.
What keeps annuities safe? Think of it this way: Are you worried about your homeowners, auto insurance, life insurance company going under? No. Remember, annuities are not speculative investments, but deposit accounts backed up by cash on hand.
The insurance industry was “the last man standing” during the Great Depression when banks and investment firms failed. Then, as now, this sector remains the last bastion of financial freedom. The fixed annuity company already has its portfolio to back these contractual guarantees.
Annuities provide a level of economic security that cannot be duplicated by other investments like stocks, bonds, CDs, etc. Annuities relieve the consumer of the need to set aside additional money to offset potential risk and fees for managing the account.
If fear of managing your retirement accounts paralyzes you and causes you stress, simply pass it to a risk bearer: an insurance company. Let the annuity provide you with a safe and secure income.
Copyright © Lyle Boss, all rights reserved.
Lyle Boss is a member of Syndicated Columnists, a national organization committed to a fully transparent approach to money management. As an asset protection educator, he has helped thousands of seniors navigate their financial retirement options. His clients include government employees, teachers, physicians, farmers and business executives, to name a few. Boss has actively taught advanced estate planning and asset preservation for more than 20 years in such places as the University of Utah and in over 200 “Senior Retirement Consumer Education Workshops” throughout Utah, Idaho and Wyoming. Boss and his wife, Deanna, live in South Ogden and St. George, Utah.