Inflation is always nibbling away at your money, so keeping too much of your money in cash or low-paying “safe” investments is a losing strategy. For evidence of inflation, just ask yourself what a gallon of gas cost back when you started to drive.
If you would like to try for something better than the low-interest-rate investments available from the Bank and others in this super low-rate environment but you aren’t prepared to take losses, then a Fixed Index Annuity might be a great solution for a portion of your nest egg.
Additionally, if you like the idea of lifetime guaranteed income, similar to pension and Social Security checks that you can count on coming every month for your entire life, then certain kinds of annuities might make sense for you.
Depending on your goals, risk tolerance, time horizon, and other factors which we can help you evaluate, you might want to add this investment to your mix.
*Subject to the claims paying abilities of the underlying insurance company.