When annuities were first introduced, the concept was simple, after one payment to an insurance company you were to receive regular payments for the remainder of your lifetime. Now, annuities have developed and expanded to create options to better suit the individuals investing. With each of the different annuity products comes a variety of benefits, making the process even more difficult. Simplicity has been lost in the act of providing more options.

So why do we have so many options now? As generations age, the expectations of retirement have changed, and individuals are hoping to gain an income for the remainder of their lives.Along with that, the ability to retire has also changed. Individuals hope to retire at a younger age than they’re finding possible. Because of this, the demographic of people interested in, and investing in annuities, has also changed to a younger demographic. This means that, in order to be successful, the concept of the annuity also needed to change.

Annuities now differ in the amount you can invest, the scheduling of payments down the road, the amount of money that is received each payment, and the risk factor in which you invest, among other things. You can make the process of determining which annuity is best for you by first creating a financial plan so that you can recognize what types of goals you are wanting to achieve with the annuity.

At Annuity Genius, our team of professionals provide you with all of the information that you need to make the investment that you want. With so many choices, it’s important that you understand the benefits that each annuity comes with, and what types of expectations and regulations they each have. Contact us today to learn more about the options you have with investing in an annuity and get started preparing for your financial future.