Let's look at some of the questions that you should ask yourself when deciding whether to invest in a variable annuity:
IMPORTANT NOTE: A self-employed individual can still choose to fund his/her personal IRA without having to contribute to the retirement plans of employees, if any.
If you are approaching retirement, or are already retired and want a steady income with the continued potential for growth, consider an immediate variable annuity. Income amounts can fluctuate with portfolio performance.
Consider all of these points in coming to your decision. It may well be that, depending on the specifics of your own situation, a deferred or immediate variable annuity may be an appropriate choice for a portion of your retirement savings. Remember that you should always keep at least three to six months of living expenses in liquid funds available for emergencies and shorter-term needs.
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