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Annuities Explained: Variable Annuities
- A variable annuity will be made up of personally managed portfolios. These portfolios will vary in investment purposes, as well as holdings.
- Until the funds from your annuity have been dispersed, you will not have to pay taxes on the money. However, you will eventually pay taxes on this income.
- Many Variable annuities offer a guaranteed minimum income for a certain amount of years. If you wanted, you could have this guarantee for life, but it comes at a cost. The fee’s for this type of guarantee can get extremely pricey.
Getting to understand the different ways you can plan for retirement can get extremely difficult to understand, and the confusion can cause frustration. Fortunately, there financial planners available to help you plan, and to help you understand exactly what your options are, as well as help you get to know the different forms of annuities you have to choose from. If you’re looking to plan for retirement, and need some financial planning assistance, contact the financial planning experts at Income For Life today.