What is an Annuity and How Does it Work?

What does retirement look like for you? Is it right around the corner, in the near future, or far out of sight? No matter what your answer may be, you should consider looking into an annuity. These financial tools can be a great way to augment or supersede traditional retirement savings. There are many different options to look into for saving, but an annuity could be the best option for you. If you want to live comfortably in the years after retirement without worrying about financial issues, then keep reading to find out how an annuity works.

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When is the Best Time to Start Saving for Retirement?

In short, now! Start saving for retirement as soon as possible. The earlier you begin to save money, the more that money is able to grow before you withdraw it from your retirement accounts. A small investment made today could yield a far greater return by the time retirement comes than a larger investment made closer to the deadline. This is due to a concept called the time value of money, which we will explore along with your options for investing in retirement. [Read more…]