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For retirement, the ultimate goal is having the time and resources to do those things you enjoy most in life. As a result, seeing to it that the income needed to do so when the time is ripe is very necessary. For that reason, I strongly believe savings and investment will always be an important aspect of a person’s financial planning. It may be done to create a nest egg for retirement, to make substantial investments that will grow over time, and to get tax benefits. Over the years many individuals have relied on the strength of their investment portfolio until the economy melt down.

Because of all the customizable options, annuities have been fiercely criticized for being too complex for the average investor to understand. While annuities are no more complex than understanding the mechanics of a mutual fund it can be easy for you to become confused without some expert guidance.

There are very few savings tools that are able to satisfy all three requirements, annuities is one such financial investment. Annuities are essentially contracts that people can enter into with insurance companies that assure capital gains in return for payment of premium. Annuities have a long and rich history and can be traced back to the Roman Empire where for a one-time payment citizens were promised a lifetime stipend, paid once a year. While times may have changed and the annuity has become versatile and offers diverse investment options the basic purpose remains the same, to ensure the financial security of the retired years

The importance of annuities lies in the fact that they cater to the needs and demands of all investors. The diversity in annuities allows individuals to select an annuity that provides the best returns according to their financial requirements. Annuities are tax deferred, this basically means that the money invested in annuities is not taxed until you are ready to make a withdrawal or begin to receive income payments. Annuities allow you to create an...