Annuities are investments issued by insurance companies that can be used to help build a guaranteed income stream or a retirement nest egg. It’s like being able to create your own pension fund or IRA. Annuities come in many varieties, helping investors reach diverse retirement goals.
A 401(k) is a retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out. Taxes aren't paid until the money is withdrawn from the account. Some plans may allow you to contribute after tax, where you pay the tax up front.
Social Security is part of the retirement plan of almost every American worker. If you are among the 96 percent of workers who are covered under Social Security, you should know how the system works and what you should receive from Social Security when you retire. Let us help you with what ever questions you may have.
An IRA is simply an account that you can shelter your retirement in to help you save on taxes. It’s super easy to open an IRA. You just need taxable income and to complete a little paperwork. After you open an IRA, you can fund it with any type of investment you want–stocks, mutual funds, bonds, or index funds. I have an IRA with Vanguard and use a simple index fund to fund it.