April 17, 2024
Retirement planning often includes considering annuities, which come with various factors to ponder. This article aims to give a balanced perspective to aid in making an educated decision about annuities.
Annuities are nuanced, surrounded by specific terms and guarantees. A deep understanding of these details is essential to avoid unexpected commitments. The financial implications, especially the fee structure involving management and operational expenses, are crucial to evaluate as they can influence the overall benefit of the investment.
The sale of annuities often involves commissions, which might affect the neutrality of financial guidance received. Ensuring that the advice for an annuity purchase aligns with your financial needs is paramount.
In the right circumstances, annuities can be beneficial. They provide options for tax-deferred growth and a steady income, which is valuable during retirement. The guaranteed income feature of annuities is especially appealing, offering financial stability in varying market conditions.
The decision to incorporate an annuity into your financial plan is personal and should be based on your specific financial situation, risk tolerance, and retirement goals. It is not a one-size-fits-all solution, and careful analysis is necessary.
Engage in an exhaustive evaluation of your financial health and consider professional advice to confirm whether an annuity aligns with your overall financial strategy.
Annuities play a specific role in retirement planning, characterized by their potential for steady income and tax advantages. However, their complexity and costs require thorough investigation and thoughtful consideration, ideally with expert input, to ascertain their suitability for your financial planning and retirement goals. Watch the video above to learn more.
Landsberg Bennett is a group comprised of investment professionals registered with Hightower Advisors, LLC, an SEC registered investment adviser. Some investment professionals may also be registered with Hightower Securities, LLC, member FINRA and SIPC. Advisory services are offered through Hightower Advisors, LLC. Securities are offered through Hightower Securities, LLC. All information referenced herein is from sources believed to be reliable. Landsberg Bennett and Hightower Advisors, LLC have not independently verified the accuracy or completeness of the information contained in this document. Landsberg Bennett and Hightower Advisors, LLC or any of its affiliates make no representations or warranties, express or implied, as to the accuracy or completeness of the information or for statements or errors or omissions, or results obtained from the use of this information. Landsberg Bennett and Hightower Advisors, LLC or any of its affiliates assume no liability for any action made or taken in reliance on or relating in any way to the information. This document and the materials contained herein were created for informational purposes only; the opinions expressed are solely those of the author(s), and do not represent those of Hightower Advisors, LLC or any of its affiliates. Landsberg Bennett and Hightower Advisors, LLC or any of its affiliates do not provide tax or legal advice. This material was not intended or written to be used or presented to any entity as tax or legal advice. Clients are urged to consult their tax and/or legal advisor for related questions.