How to Create Your Self-Directed Annuity Pension

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

A self-directed annuity pension can provide you with a stable and secure source of income in retirement. Unlike traditional pension plans, self-directed annuities allow you to take control of your investments and decide how your retirement savings are allocated. In this guide, we’ll explore the steps you need to take to create your self-directed annuity pension.

Step 1: Determine Your Investment Goals

Determining your investment goals is the first step in creating a self-directed annuity pension. This will help you determine the type of annuity right for you and the level of risk you’re comfortable with. Some common investment goals include:

  • Generating a steady and reliable income stream
  • Preserving capital and avoiding investment losses
  • Maximizing growth potential
Self Directed Pension Plan

Step 2: Research Annuity Providers

Once you’ve determined your investment goals, it’s time to research annuity providers. Look for providers that offer the type of annuity you’re interested in and compare each option’s fees, features, and benefits. Be sure to consider factors such as:

  • The provider’s reputation and financial stability
  • The level of customer support and service offered
  • The fees associated with the annuity
Self Directed Annuity

Step 3: Open an Annuity Account

Once you’ve selected a provider, it’s time to open an annuity account. First, you’ll need to provide some personal information, including your name, address, and social security number, as well as your investment goals and risk tolerance. You’ll also need to make an initial deposit into your annuity account.

Self-Directed Annuity

Step 4: Allocate Your Funds

Once your annuity account is open, it’s time to allocate your funds. You’ll need to decide how you want your money invested, considering your investment goals and risk tolerance. Some standard investment options for self-directed annuities include:

  • Stocks and bonds
  • Real estate
  • Commodities
  • Alternative investments
Self Directed Variable Annuity

Step 5: Monitor Your Investments

Finally, it’s essential to regularly monitor your investments to ensure that they’re aligned with your investment goals. This will also help you make informed decisions about when to rebalance your portfolio and make changes as needed.

Next Steps

Thanks for reading! We hope this guide has helped you understand how to create a self-directed annuity pension. This type of retirement savings plan can provide you with a stable and secure source of income in retirement, but it’s essential to approach it with the proper discipline and mindset. If you’re considering setting up a self-directed annuity pension, we’d be happy to provide you with a quote. Just contact us, and we’ll get started!

Self-Directed Annuity

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What Is a self-directed annuity?

A self-directed annuity is a self-managed retirement income plan.

How do self-directed annuities differ from traditional annuities?

Self-directed annuities differ from traditional annuities in that the investor has more control over the investment choices within the annuity. With a self-directed annuity, the investor can choose from a wider range of investment options, including real estate and private equity. Traditional annuities typically offer a more limited selection of investment options, such as mutual funds or fixed income securities. Additionally, self-directed annuities may have higher fees and require more active management on the part of the investor.

Shawn Plummer, CRPC

Chartered Retirement Planning Counselor

Shawn Plummer is a Chartered Retirement Planning Counselor, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. 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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