Columbus OH Annuity Question
Reader’s Question:
I have decided to invest in an annuity. I’m struggling a little with how much of an investment to make. Is there a formula to help me make a smart decision?
John
Columbus, OH
Hello John,
Measuring your long-term financial goals is essential to planning your annuity. You and your agent/planner should make sure the amount of the annuity is consistent with this plan. You should also project your real-life needs. I think you better think ahead a bit. This will help you determine the size of your annuity investment.
Does your current portfolio allow you to deal with your present and future expenses? Have your considered your future expenses and allowed for increases? Generally, most annuities have a penalty for early withdrawals. Certain annuities allow for immediate withdrawals without penalty. With other annuities, withdrawals are not permitted at all. This is usually a big consideration in planning your annuity.
Your agent can help you select the correct annuity. Map out your financial future and select the type annuity that will be a comfortable fit, offering a timely return that completes your investment strategy. Investing in annuities is investing in your future. Make sure your immediate savings strategy allows for life’s surprises.
Again, the most important step in determining the type and amount of your annuity investment is to meet with your financial planner and develop a good strategy. Good luck, John.
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