Summerlin Benefits Consulting Q&AAnswer
Oct 16, 2024 - 07:21 AM
Yes, an annuity can be a smart choice in your 40s. Annuities allow you to grow your savings over time, providing guaranteed income in retirement. Starting early gives your money more time to grow, resulting in larger payouts later. Fixed Index Annuities (FIA), for example, are tied to a market index like the S&P 500, allowing you to benefit from market gains without losing money during downturns. You can continue adding to the annuity over time, and with flexible options for payout and funding, it’s a great way to build a reliable retirement income.
