Sentences with phrase «immediate annuity if»

Like an immediate annuity if you select the option that lasts for you and your spouse's lifetime, the payment is slightly lower than the straight lifetime option.

You can even opt for a single premium immediate annuity if you have enough money to afford it, after your retirement.

Not exact matches

The immediate pay fixed annuity, if you simply need lifetime income and need to convert a savings or certain amount of money into a stream of income, rather than a holding of savings, and for life.

If, on the other hand, your Social Security and any pension payments fall well short of covering your essential expenses, then you might want to consider closing or narrowing that gap by devoting some, but not all, of your nest egg to an immediate annuity that can generate additional lifetime income.

If those sources alone aren't enough to pay most or all your essential expenses, you may want to consider devoting a portion of your nest egg to an immediate annuity to cover of the shortfall.

If you decide that putting a portion of your savings into immediate annuity in return for lifetime income is the right choice for you, then the next step is identifying an annuity (or annuities, as the case may be) that can provide the right combination of income and security.

Similarly, if your nest egg is large enough so that your chances of running through it in your lifetime are very low or negligible, then you also may not need any type of guaranteed income beyond Social Security, in which case you simply may not have to devote any of your assets to a longevity annuity or an immediate annuity.

Bottom line: If you would like to have a reliable source of lifetime income beyond what you'll get from Social Security, it makes sense to at least think about putting some (but not all) of your savings in an immediate annuity.

(And if you would like extra assurance that you'll have spending cash coming in regardless of how the markets perform, you can always invest a portion of your savings in an immediate annuity or longevity annuity.)

When insurers set payment levels for an immediate annuity, by contrast, state regulators require that they set aside reserves to assure they can make scheduled payments even if their actuaries» and investment analysts» projections are off.

If you're convinced you'll die before your life expectancy, then a longevity annuity — or even an immediate annuity, for that matter — would make little sense.

If you want the guaranteed income to begin soon — say, to pay for essential living expenses beyond what income from Social Security alone will cover — then an immediate annuity would be a better way to go (although you may still want to hold off a bit to get a better handle on what your actual expenses will be after you retire).

If you think you'd like more assured income, consider an immediate annuity.

If the amount of guaranteed income you'll receive from Social Security and any pensions is enough to cover all or most of your basic living expenses in retirement, then you may not need an immediate annuity.

Even if you decide you're more inclined to go with the annuity, you should first determine whether the monthly payments you'll receive from your pension will be higher than what you could get by taking the lump sum, rolling it into an IRA and then buying an immediate annuity within that IRA that will make lifetime payments.

But if you feel you want more guaranteed income than you'll collect from Social Security and any pensions — and you're willing to take these prudent steps to ensure you're getting a competitive payout and that you can truly rely on the annuity's promise of income for life — an immediate annuity is at least worth considering.

And whether you purchase a fixed or variable immediate annuity, you're guaranteed to receive payments for life if you elected that payout option, no matter how long you live.

But if you want more assured income than Social Security alone can provide, then putting a portion of your savings into an immediate annuity may make sense.

However, if you need income now or you know you will soon, an immediate annuity may be an excellent option for you.

If you go to an immediate annuity calculator, you'll find that at today's interest rates forking over $ 100,000 to an insurer for an immediate annuity would provide guaranteed lifetime payments of about $ 540 a month for a man that age.

Yes, if you are old enough, when you buy an immediate annuity, the annual payment may be 7 % or more than the amount that you gave to the insurance company.

Or to put it another way, if you decide an immediate annuity isn't the right choice for you, that's fine.

But if you've rejected an immediate annuity because you think you can generate the same level of guaranteed lifetime income investing on your own, I have two little words for you: mortality credits.

But if you really want to turn a portion of your nest egg into something that approximates a pension — a specific amount of money you can count on month in and month out for the rest of your life — then I suggest you suspend your wariness about annuities long enough to at least consider a type of annuity that's easier to understand, less prone to the abuses that are too often associated with annuities and is very efficient at turning savings into assured lifetime income — namely, an immediate annuity.

But if you'd feel better going into retirement with more steady and reliable income than just what Social Security and any pension will provide — or if you'd like more assurance that you won't come up short in the future — then an immediate or longevity annuity just might be worth considering.

But if lifetime retirement income is your goal, I think your two best choices are an immediate annuity or a longevity annuity.

If you decide you want to put a portion of your savings into an immediate annuity or a longevity annuity, make sure to get quotes from several insurers, as payments can easily vary from one company to another by 8 % to 10 %.

If you die soon after purchasing an immediate annuity, you'll receive relatively little in monthly payments or, to put it another way, you'll be the one providing those mortality credits to annuity owners who live long time.

Indeed, if Social Security (which is also essentially an annuity) is enough to cover all or most of your living expenses, you may not need an immediate annuity at all.

If you're really worried that you might run through your savings while you've still got a lot of living to do, you could also think about converting a portion of your nest egg to a guaranteed lifetime income stream via an immediate annuity or a longevity annuity.

The Genworth immediate annuity can also provide a payout to the beneficiary if the annuitant dies within six months of the contract date.

And if you decide that you would like more guaranteed lifetime income than Social Security alone will provide, you can always consider converting a portion of your nest egg to an immediate annuity in return for lifetime monthly payments.

You are strongly urged to consult with financial planning, tax, and legal advisors to determine if a fixed rate annuity, immediate annuity, deferred income annuity or qualified longevity annuity contract is suitable in your financial situation.

But if that's not the case, you might want to invest a portion of your savings in an immediate annuity.

If you do decide to put a portion of your savings into an immediate annuity or a longevity annuity, you'll want to do some comparison shopping before you actually invest.

Which is why even if you decide an immediate annuity is right for you, you want to be sure you have plenty of other savings invested in stocks, bonds and cash equivalents that can provide capital growth to maintain purchasing power and provide extra cash should you need it for emergencies and such.

So if you believe you would feel better having even more income you can rely on regardless of how stocks and bonds are performing, then I don't why you shouldn't get the additional comfort you seek by putting some of your nest egg into an immediate annuity.

If, on the other hand, there's a gap between the income required to cover basic living costs and what Social Security will provide, then you may want to consider devoting enough of your savings to an immediate annuity to fill all or most of that gap.

Just another reason I think combining a plain - vanilla immediate annuity with a portfolio mutual funds or ETFs is a better way to go if you want assured lifetime income and growth.

But if you want more assured income than Social Security alone will provide, it makes sense to at least consider an immediate annuity.

If you choose an immediate annuity, annuitization occurs shortly after you purchase it, sometimes within 30 days.

In retirement, throwing an immediate annuity into the mix can even make sense if you want more assured income than Social Security alone will provide.

If you feel you'd like more guaranteed lifetime income than you'll already receive from Social Security and any pensions, you could put a portion of your savings into an immediate annuity.

In addition, if you have an annuity that is already paying out, such as an immediate annuity, that you can't surrender, then transferring ownership may be your only option.

Congressional staff members enrolled in the Federal Employee Health Benefits Program since the earliest opportunity, in the five years preceding retirement, or for the entire period of eligibility, can continue receiving health benefits through the plan if they retire on immediate annuity.

If your 401 (k) plan is one of the relatively small percentage of plans that offer an immediate annuity, you may be able to buy the annuity within the plan.

So if you have good reason to believe you'll have a shorter - than - average lifespan, you're probably not a good candidate for an immediate or longevity annuity.

But if you're looking for income that will start as soon as you retire, then you might consider an immediate annuity.

But if your Social Security payments fall well short of providing you with sufficient assured income to cover basic expenses — or, if you just prefer the emotional comfort of having a larger cushion of guaranteed income — then you may want to consider devoting a portion of your savings to an immediate annuity.

Scott Burns about When to Receive Social Security «If we look at the lost immediate benefits as an investment, a year of benefits gives us a lifetime inflation - adjusted annuity equal to 8.0 percent of the benefits we opted not to take.