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A fixed annuity will have an interest rate that is guaranteed (for a period of time). They tend to be safer and more reliable than a variable annuity which will invest (or potentially can invest) in stocks and bonds.
Traditionally, older persons have had fixed annuities as part of their investment portfolio.
Whenever you consider purchasing an investment or savings product, you need to consider if you’re risk profile and financial goals are suitable for the product you’re buying. Fixed annuities are no exception. But here are some guidelines. Annuities ultimately are for income purposes. Tax deferral fixed annuities can have an economic impact during accumulation and an additional feature of mortality credits when annuitized. If you’re a long term conservative saver, looking for income fixed annuities could be for you.
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Traditionally, older persons have had fixed annuities as part of their investment portfolio.