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There are three primary types of annuities: Indexed annuity: Returns are tied to an index, such as the S&P 500. Fixed annuity: Offers a fixed interest rate on your funds and periodic payments of a ...
Whether you're self-employed, a small-business owner or a more traditional employee, there are good retirement plan options for you. Read The 9 Best Types of Retirement Accounts from Money Talks News.
An IRA is an investment account while an annuity is a contract between you and a life insurance company. These financial products function in fundamentally different ways, so it’s important to ...
Types of retirement plans. Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.
Craig Reid, president and national practice leader of retirement and wealth at Marsh McLennan Agency, said that the first type of account he recommends is the 401(k), if your employer offers it.
An individual retirement account is a type of individual retirement arrangement as described in IRS Publication 590, Individual Retirement Arrangements (IRAs). Other arrangements include employer-established benefit trusts and individual retirement annuities , [5] by which a taxpayer purchases an annuity contract or an endowment contract from a ...
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