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Annuity
An annuity is a financial vehicle designed to help accumulate money for retirement, protect what you’ve saved, or turn your retirement savings into an income stream. The annuity can be funded either with a lump sum of money or through regular payments. The funding source can be a qualified retire account, e.g. your 401k or IRA. These contributions generally earn a tax-deferred rate of return as they accumulate.
Reasons you should consider Annuity in your investment and retirement portfolio:
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Protect your principal.
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Avoid probate in most cases.
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Have guaranteed income for life.
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Gain potential protection against creditors, claims, lawsuits, bankruptcies and more.
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Plus, annuity payouts do not affect your Social Security benefits.
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