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Why You Should Consider Rolling Over to an Annuity

Are you tired of everything that has happened in 2020? The unforeseen COVID-19 pandemic continues to affect all of our lives with stock market ups and downs and a plethora of businesses struggling to survive in today’s coronavirus environment.

Business are looking at their costs and evaluating what the next steps are to stay operational. People are losing jobs in the service industry and working remotely has become the norm for this year. How could these factors affect your retirement planning especially if the company controls your stock options or 401(k) plans?

Have you considered rolling some of your hard-deserved retirement money into an annuity? With Stretch IRAs eliminated with the Secure Act, you may want to find a different retirement account that guards against fluctuations in the stock market plus guarantees lifetime income.

Four Reasons to Rollover Retirement Accounts to an Annuity

  1. You control what happens with the money. A tax-deferred annuity will provide lifetime income for the rest of your life and is not impacted by external factors (employment, life events, expected medical conditions). Some annuities also may provide long-term care assistance through an income rider.
  2. Work with a financial professional. With a licensed financial professional, he/she can assess your retirement accounts and provide you with expertise and guidance on what to do with your retirement money.
  3. Multiple options vs. One option: An employee plan is in the hands of one person. An agent or advisor has access to multiple top-rated insurance carriers and annuity products, which you can choose to align with your short-term and long-term retirement goals. Compared to a bank CD, a short-term fixed annuity, multi-year guaranty annuity (MYGA), or fixed indexed annuity (FIA) may earn more interest during a three-to-five-year period. For long-term, carriers have annuity products with stable growth and lifetime guaranteed income designed for planning for unknown expenses.
  4. Peace of Mind. Even in the worst financial years (like 2008), an annuity will protect your retirement funds as you cannot lose your original premium amount in an annuity.

If you decide to roll over your retirement funds into an annuity or other financial product, it’s better to consult with a licensed financial professional to ensure you make an informed decision about your future. Annuity Alliance can align you with a licensed professional to assist you in selecting an annuity carrier or product that fits your retirement strategy. Contact Annuity Alliance today for more information.