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Plan for a peaceful retired life with retirement annuity

By Robertcook Subscribe to RSS | April 6th 2012 | Views:

Planning for your retirement while you are still working is a good idea. Especially if you are looking forward to a peaceful and tension free retired life, make sure you start your planning early. The biggest problem you would probably face after your retirement is related to your finances since you would not be receiving monthly salary anymore. If your pension amount is good, you are fortunate but if your pension amount is meager or if you do not receive pension at all, then you should definitely start planning for your future. Saving during your employment period is a smart decision and so is investing to arrange for your own pension with the help of retirement annuity policy.

A retirement annuity policy, also known as a lifetime annuity policy is like saving too but it is better in two ways. Firstly, if you save money by keeping it aside, you can withdraw it at any time whenever you need it. But by investing in a good lifetime annuity policy, you would not be able to withdraw the money before the tenure of the policy is over i.e. your money would be kept safe till your retirement.

Secondly, an annuity policy would return your money after the time period is over and along with the interest accumulated in monthly installments, like pension, thus keeping the inflow of money to your household intact. You can choose to withdraw the money as a lump sum amount too after the time period is over but usually people opt for monthly installments when they choose a retirement annuity policy. This choice is made when the agreement is made between you and the annuity offering company. Hence make sure you understand the terms and conditions before signing any documents.

You must have understood the basic working of a lifetime annuity policy by now. You buy an annuity policy from a good and reputed company and pay premiums for a certain period of time, say till your retirement. After that tenure is over, your money is returned to you along with the interest collected, like it is described above. Hence it can be said that you are arranging for your own pension such that you can have a tension free and relaxed retired life. Start early, such that you have to pay lesser amount of premiums. Plan your personal finances well and spend your life without any worries.

Robertcook - About Author:
Robert Cook is a Financial consultant who has good information on lifetime annuity. For more information on retirement annuity, he recommends you to visit

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