Juliette Fairley - Is purchasing a retirement annuity a good idea?
In this video, Juliette Fairley explains that purchasing an annuity can be beneficial both for those with existing retirement savings—by providing supplemental income—and for late starters who want to catch up and build retirement savings through lump-sum or ongoing contributions.
Video Transcript
Purchasing an annuity for retirement is a very good idea if you already have savings or if you need savings. So let's say that you already have savings, retirement savings in a four zero one ks or an IRA, then the annuity can provide you with a supplemental stream of income. If you have no retirement savings, let's say you're a late bloomer, late starter, you're over fifty and you see your retirement on the horizon, but you didn't save. So you can get yourself an annuity right now, put in a lump sum or make payments to catch up. Either way, it can be a very good idea to explore how an annuity can help you either save for retirement now or supplement existing retirement savings.
