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A variable annuity is a contract between you and an insurance company. It allows you to grow your retirement savings and receive a steady stream of payments later. Like all annuities, you agree to ...
Pros and Cons of Variable Annuities. As with any investment, there are advantages and disadvantages to putting your money into a variable annuity. Here’s a rundown of the pros and cons.
Cons. Fees: You will face fees with an annuity that vary by the issuing company. Fees are typically anywhere from 1% to 3% of your account balance per year. Most issuers will also charge other ...
3. Tax-deferred growth. Money inside an annuity grows tax-deferred. Gains on the amount of premium invested in the contract grow with no taxes due until the money is withdrawn, assuming the ...
Annuity. In investment, an annuity is a series of payments made at equal intervals. [1] Examples of annuities are regular deposits to a savings account, monthly home mortgage payments, monthly insurance payments and pension payments. Annuities can be classified by the frequency of payment dates.
Quick Take: Pros and Cons of Annuities. ... Variable annuity: You can get bigger future payments depending on whether the annuity fund does well, or smaller payments if it doesn't. It's riskier ...
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