Annuity Definition and 5 Ways to Pay for Retirement

Annuity Definition and 5 Ways to Pay for Retirement https://youtu.be/9UacO0gjrKE What is an Annuity and how can it help you pay for retirement? Annuity definition plus five ways to close the income gap and pay for retirement. We talked about that retirement income gap last week and the $30,000 hole in most retirees budget after social security. This week, we’re talking about the solution. I’ll explain annuities and how these investments can guarantee income in retirement. I’ll also share five other ways to help pay the bills in your golden years. See how easy it is to guarantee income in retirement with AgeUp and a deferred annuity. Use the free retirement income calculator and find your number in less than a minute. https://ift.tt/2yw0PvA An annuity is an investment sold by an insurance company to guarantee income for the rest of your life. You can buy into an annuity with a one-time payment or over years. Your monthly income from the annuity is a fixed amount and can start immediately or at a date in the future. Annuities work through the insurance company investing your money at a safe rate to guarantee that level of income in the future. While the rate of return is usually low, it’s guaranteed because it’s backed by the insurance company. Pros of annuities are that guarantee and the confidence you’ll have money to pay the bills in retirement. Cons are the lower return compared to other investments and the high cost of most annuities. AgeUp is a twist on the traditional deferred annuity though and can make these income streams affordable for everyone. I’ll walk you through the annuity definition, show you the different types of annuities and how to calculate how much an annuity pays. I’ll then show you five more ways to close that income gap in retirement. 1:48 What is an Annuity? 2:08 Difference between Immediate and Deferred Annuity 2:59 Pros and Cons of an Annuity 5:35 How Much Does an Annuity Pay? 7:30 5 Ways to Pay for Retirement Join the conversation in our private Facebook Group! https://ift.tt/2SL3NCQ Join the Let's Talk Money community on Instagram! https://ift.tt/336QCQl SUBSCRIBE to create the financial future you deserve with videos on beating debt, making more money and making your money work for you. https://ift.tt/2zsdiOe Joseph Hogue, CFA spent nearly a decade as an investment analyst for institutional firms and banks. He now helps people understand their financial lives through debt payoff strategies, investing and ways to save more money. He has appeared on Bloomberg and on sites like CNBC and Morningstar. He holds the Chartered Financial Analyst (CFA) designation and is a veteran of the Marine Corps. #retirement #annuity #income Let's Talk Money! with Joseph Hogue, CFA