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Post Retirement SolutionsSo you have reached your golden retirement years. Now you need a financial vehicle to produce a steady retirement income. You can invest in a Living Annuity or Life Annuity. We can advise you which of the two may be a better option based on your goals and circumstances. Your retirement income will determine your lifestyle during some of the best years of your life. You need a suitable vehicle to see you through your much-anticipated retirement years.
We can help you with advice and quotes from different financial product providers. You can choose the quote that you like best. Fill out your details below to get started now.
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Why Do You Need a Living/Life Annuity?
You need an excellent place to place your hard-earned money and generate an income. An annuity allows you to set your hard-earned money and create an income. You need to figure out whether you need a Living Annuity or Life Annuity. Both offer considerable advantages and disadvantages. We are here to discuss your options with you to help you come to a decision.
Post Retirement Solutions
Living Annuity
How Does It Work?
A Living Annuity provides you with income in your retirement years. Your income is determined by how much you have invested and how much income you require every month. Your money will remain invested in keeping up with inflation. You will be required to derive an annual income measuring 2.5% – 17.5% of your investment amount.
What Are The Risks?
You risk outliving your savings if you have not invested enough to sustain yourself throughout your retirement years. This problem can be further exacerbated by retiring earlier than your savings allow you to or drawing too large an income, leading to the premature exhaustion of your funds. Early retirement robs you of potential compounding.
What Are The Advantages?
A Living Annuity allows you to appoint beneficiaries. This vehicle is a perfect post-retirement platform for those who have been financially disciplined and have created sufficient preparation for their retirement. A Living Annuity allows you to create a succession plan for your hard-earned investment when you pass away.
Post Retirement Solutions
Life Annuity
How Does It Work?
A Life Annuity allows you to pool your funds with other investors of your peers. The objective of a Life Annuity is to guarantee that you have an income for as long as you are alive. When a fellow annuitant passes away, their share of the investment pool is distributed among the surviving annuitants, allowing your income to increase as your cost of living increases.
What Are The Risks?
The most significant risk in investing in a Life Annuity is passing away early. If you pass away early, you have no means of taking out any money you have invested into the pool. Your investment becomes the property of the investment pool. Thus, you cannot appoint beneficiaries or create a succession plan for your investment. This is not ideal for most people.
What Are The Advantages?
The significant advantage is that you a guaranteed an income for as long as you remain alive. Guaranteed income is a considerable advantage if you have not saved enough for your retirement years or live beyond your life expectancy. A Life Annuity secures your income for life, in the literal and figurative sense. Fill out your details above, and we can advise you on the best way forward for you.