Fixed Annuity factors to Consider
- Fixed annuities are designed for retirement accumulations
- Track ten-year commercial bond yields
- Accumulate compounded interest tax free
- Offer tax favored retirement income
- Provide guaranteed retirement income options
- Have early surrender penalties
- Have a tax penalty for withdrawals prior to age 59½
- Are a buyer beware product because of the numerous options and fine print
- Many consumers are sold the wrong annuity
- Proper annuity selection requires an experienced professional