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Retirement planning: Why should I consider fixed annuity contracts?
An annuity arrangement forms a financial contract between an individual and an insurance company such that the individual receives a series of payments for a period.
Recently, a conversation on retirement came up as my family and I were having the usual Sunday family lunch. The conversation elicited varying opinions, ranging from when we should start having a solid retirement plan to the options we have at retirement.
According to several financial advisors, the best time to start saving for retirement was yesterday, a statement that holds true in my opinion. However, the big question is: What should this retirement plan look like? Is it a real estate investment? Is it a farming business? Or is it simply purchasing an annuity arrangement with the right provider?
