Is an annuity a good deal? Retirees who are considering investing in an immediate annuity can make sure they get a competitive quote by consulting the annuity payment calculator at immediateannuity.com, according to this article on CNN. They should also make sure to compare quotes for the same options, whether they are for “life only” plans, “life and 10 years certain” or others. For greater security, retirees should also stick to insurers that garner A+ or higher financial strength ratings and divide their annuity stash among two or more insurers. To reduce the risk of investing during periods when annuity payments are at a low point, clients are advised to invest in stages, for example: $50,000 once a year for three years.
6 hidden benefits of consulting in retirement Consulting or other ways of working part time during early retirement could be beneficial to people for both financial and non-financial reasons, according to Kiplinger. Working would lead to extra income, tax deductions, better Social Security benefits, easier transition into full retirement and more. However, retirees may will also be faced with self-employment taxes and possible loss of freedom if they chose to work part time.
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