Annuity Decisions by Age

Shawn Plummer

CEO, The Annuity Expert

Annuity Decisions at Different Ages

Age GroupAnnuity DecisionReason
20s-30sFixed IndexedFocus on growth, with a safety component
Over 40Income AnnuityPlan for guaranteed retirement income

For the Young Savers: Twenties and Thirties

Insight for Young Adults: If you’re in your twenties or thirties, buying an annuity for income purposes might not be the best strategy. Why? At this age, your focus should be on growth and accumulating wealth. Annuities typically offer more stability than growth, which is less suited to your current financial phase.

A Strategic Approach: However, there’s a twist. Consider using fixed-indexed annuities for the conservative part of your retirement portfolio. This can be a smart move. Fixed-indexed annuities can provide a safety net, protecting part of your portfolio from market downturns while offering growth potential.

Annuity Decisions By Age

For Those Over 40: Planning for Guaranteed Income

Why It Makes Sense: Once you hit 40, the game changes. Now, it’s all about planning for guaranteed income in retirement. Annuities shine in this regard. They allow you to forecast and plan your retirement income precisely, ensuring you reach your desired retirement income at your targeted age.

Expert Tip: Opt for annuities that offer flexibility and guaranteed returns. This will align with your goal of creating a reliable income stream for your retirement years. Remember, the focus is on securing your future financial stability.

Annuity Decisions At Different Ages

Conclusion: Making the Right Choice at the Right Time

In summary, your age plays a crucial role in deciding whether to buy an annuity. For those in their twenties and thirties, it’s more about balance and growth, with fixed-indexed annuities as a potential part of your portfolio. However, once you’re over 40, it’s time to think about guaranteed income and stability. Annuities can be a valuable tool to ensure you have a steady income stream in retirement. Every financial decision should be tailored to your specific life stage and goals. Contact us today for a free quote.

Annuity At 40

Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed insurance agent and annuity broker with over a decade of first-hand experience. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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