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  • Annuities Can Be A Great Way To Invest Safely

    January 19, 2012 by N/A

    (RTTNews.com) – In times of market mayhem, annuities can be a safe way to
    invest your money, especially if you’re eying retirement.

    An annuity is a financial product sold by financial institutions, such as an
    insurance company. It is designed to accept and grow funds from an individual
    and then pay out a stream of payments upon annuitization.

    It’s a great way to grow your money without much risk.

    “I think if you really look at it, those investments are safe money
    investments,” Kirvan Financial President Rob Kirvan said in an interview with
    RTTNews. “You cannot lose one penny of principle, so when you’re looking at it
    from that perspective and you’re gaining a 4 to 6 percent return, I think
    they’re very valuable to have as part of a portfolio for sure.”

    Your investment is backed by policy holder reserves, which means that every
    dollar of principle that they bring in via annuities must have a reserve
    requirement. Most companies hold 5 to 7 cents on every dollar.”

    Kirvan said, “So if I put $100,000 in, no matter what happens in the
    marketplace, no matter what happens with the insurance company, they have to
    guarantee that principle.”

    The risk may not be great, but the chance of a payout is still there. Over
    the last 12 years, fixed income annuities have outperformed the S&P 500,
    Kirvan said.

    This could make annuities an ideal investment for someone close to retirement
    age that’s looking to secure their hard-earned dollars for the rest of their
    life. Kirvan said annuities are “100 percent” a good investment for those
    closing in on retirement.

    “[For] many retirees or pre-retirees, their biggest concern is the money they
    saved up over a lifetime, they don’t want to lose it,” he said.

    “They just went through 2008, they just went through 2002, and they’re not
    very happy with sustaining those losses. For a percentage of the portfolio
    putting it into an annuity product is a very safe investment and one that will
    pay the yield they’re looking for.”

    While they are a good idea for older folks, Kirvan said that in general,
    younger people might want to look for something with a higher reward for their
    risk.

    “I think younger people in general should look for a higher return,” he said.
    “When you’re younger and in your 30s and 40s, you’re able to lower cost average,
    so it doesn’t matter if the market [is] up or down.”

    Kirvan said fixed annuities can be bought in terms from one to 20 years, with
    the most common usually around 10. Most institutions allow withdrawals of 10
    percent per year.

    For comments and feedback: contact editorial@rttnews.com

    http://www.rttnews.com

    Originally Posted at NASDAQ on January 19, 2012 by N/A.

    Categories: Positive Media
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