What Is The Purpose Of Annuities?

  1. 712 POINTS
    John Cole
    Recruiter/Manager, Cole Insurance Investments, Charlotte N.C.
    Annuities to keep it simple are great when you have saved for years and want some tax breaks we know that the culture we live in is just taxes, taxes and more taxes.Then you have inflation which will consume your retirement like nothing you have ever seen that's just a couple reasons to purchase an annuity then add in the higher tax bracket as we age and start our social security and now were being taxed at 50% - 85% we just can't afford to lose that kind of money when we decide to hang it up. A good rule of thumb is to get at least three bids on your savings and look them over good this is your retirement take it serious.
    Answered on September 14, 2014
    flag this answer
  2. 11783 POINTS
    Contact Me
    Larry GilmorePRO
    Agent Owner, Gilmore Insurance Services, Marysville, Washington State
    What is the purpose of Annuities? Well, the purpose of annuities is two fold. First during the accumulation phase an annuity allows you to invest money safely with tax deferral on the gains until the distribution phase begins. Which leads us to the second phase distribution. This phase the annuity creates a steady stream of equal payouts that a person can't outlive.
    Answered on October 22, 2015
    +0
    1 Thumb up 0
    +1 this answer
    flag this answer
    3. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>