The 4 Types of Annuities: Which is Right For You? | On The Money

Ryan Wheless of Allied Wealth discusses the different types of annuities. When seeking to understand whether an annuity might be a good fit for your retirement plan, you should go through the education on the pros and cons of each type in order to understand which might work best for your situation.

In this episode, the following types of annuities are discussed:

1. Fixed Annuities: These annuities provide a guaranteed fixed interest rate for a specified period of time. They are relatively low risk and are suitable for individuals who want a predictable income stream.

2. Variable Annuities: These annuities offer the opportunity to invest in a range of investment options such as stocks, bonds, and mutual funds. The payout is based on the performance of the underlying investments.

3. Immediate Annuities: These annuities provide a regular income stream immediately after the initial payment is made. They are suitable for individuals who want a guaranteed income stream in retirement.

4. Fixed Indexed Annuities: These annuities are a combination of fixed and indexed annuities. They offer the safety of a fixed annuity and the opportunity for growth based on market performance.

It’s important to note that annuities have different fees and charges associated with
them, and it’s essential to understand the terms and conditions before purchasing any
annuity product.

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All content is not to be received as advice and each individual should consult with their dedicated financial planner, tax preparer, estate attorney, etc. before making any financial decisions. Public comments on videos are not controlled or reviewed by One the Money or Allied Wealth and do not reflect the views of On the Money or Allied Wealth. On the Money or Allied Wealth may delete comments which contain vulgarity, threats, spam, scams, or other harmful content. Comments are read at the viewer's own risk. Viewers should be wary of fake posts, scams, or other harmful content.

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