Guaranteed Income for Life Through an Annuity #SHGenworth

Disclosure: Information for this post is sourced from Genworth Financial but feature my own thoughts and opinions.

Honestly I am clueless about retirement and saving money for my future.  Don’t get me wrong, I am very good managing the money I have but I am also a not a risk taker.  Saving money and investing, scares me.  My husband though luckily is very proactive at preparing for our future.  From increasing his 401k to trading stocks to saving money each month, he is working on our retirement plan now.  I can’t believe I am thinking about retirement already but I feel like it will be here before I know it!

What scares me is that the market will crash though and all the money we saved will be gone or significantly less, like what happened in 2008.  Well according to an article from Yahoo Finance entitled “Guaranteed Income for Life” one way to supplement your retirement savings is through an annuity.  Now again I am clueless about what an annuity is but the article does makes sense to me.  An annuity is a contract between you and an insurance company that offers reliable income for a certain period of time in exchange for a lump-sum investment or series of investments.  There are three types of annuities:  fixed, indexed, and variable.  Each annuity varies depending on your income needs and time available.  From guaranteed rates to risk taking to the potential to earn an unlimited return, annuities definitely give you something to think about!

Now if your like me and more of a visual leaner, Genworth Financial has created a great resource video about Annuities: