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Retirement annuity is hard to understand and I would recommend going to your financial institution and contacting a financial planner. They offer free help with this.

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13y ago

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Related Questions

Can I buy an annuity for my retirement savings?

Yes, you can buy an annuity for your retirement savings. An annuity is a financial product that provides a stream of income in retirement in exchange for a lump sum payment.


When do you get you retirement check?

when is my retirement check posted to my checking account


What does retirement annuity mean for a pensioned insurance owner?

A retirement annuity will give you a guaranteed income after you retire. If the annuity is owned by an insurance company then they will have control over your money so it is important to shop around for the best deal.


What is the principal benefit of an annuity?

The principal benefit of an annuity is providing a steady stream of income during retirement.


Where is the best place to start a retirement annuity?

There is a website called Free Annuity Rates that can help guide one to the best rate and best retirement annuity for one's own situation. Other websites offer similar service.


I have a retirement annuity that I cant touch for 12 more years. how do I get cash from it now?

I think you can sell it to someone else for current value and tranfer it to them.


How is a defined benefit retirement plan different from an annuity plan?

A defined benefit plan is one that your employer pays for over the period of time you are employed with them. An annuity plan is a program that you invest in for your retirement. Both are payable at the time of your retirement. Defined plan is a fixed amount. Annuity depends on the terms of your contract.


Where do you find your retirement annuity certificate for tax purposes?

metropolitan


What is a retirement annuity?

A retirement annuity can be a multitude of things. One prime example is an IRA. This is an Individual Retirement Annuity. This is where you place your allowable tax deductible amount into a product to grow at the rate and within the guidelines of the product you have purchased with the goal of utilizing these funds towards your retirement in the future. You would pay taxes on this type of retirement annuity when you begin to withdraw the funds. However, there are many types of retirement annuities, i.e. IRA's, Roth IRAS's, TSA's, 401K's 403B's, 503c's, plus non qualified annuities can be utilized for retirement. After researching and determining your goals you should set down with a financial professional to determine what would best fit your needs.


Which of the following is NOT a retirement benefit under the Blended Retirement System.?

Continuation Pay


Do I have to buy an annuity in order to secure my retirement income?

No, you do not have to buy an annuity to secure your retirement income. An annuity is one option to consider, but there are other ways to save and invest for retirement, such as 401(k) plans, IRAs, and other investment vehicles. It's important to research and consider all options before making a decision.


Can I use an immediate annuity calculator to calculate how much I will have for my retirement?

An imeediate annuity calculator are for people who are interested in immediate annuities. I would assume that you could use this calculator to calculate how much you will have for your retirement.