Interested in purchasing an annuity? Despite the recent downturn in rates, now may actually be the right time to buy.
Soon after Brexit news broke a few weeks ago, pensions saw their first hit as companies began cutting the amount they were paying to new retirees – some down as much as 2 percent. However, some experts are encouraging retirees to buy annuities now, while rates are low.
While more rates may be slashed, a number of useful advantages may exist. A CNN Money article contends that although one might receive less in payments for annuity purchased at a younger age. However, that person may then collect payments for more years due to the earlier age as opposed to receiving higher payments at an older age.
Visit CNN Money to learn more. To discuss your annuity options, contact our team of experienced professionals today, (336) 226-8595.