Millennials are coming under fire because of not managing their finances, as well as other generations.
However, in this article, we will inform you about some reports and studies about Millennials and their investment as well as about annuity, as we think that annuity is one of the best options everyone should keep an eye on. In the same way, the young generation should also focus on investing in an annuity to get a high range of profits. An annuity helps you make better profits and fewer returns, which saves you from tax and gives you interest on a specific rate, and many more features. Also, if the stock market rates fall, the annuity is the one that will not decrease the pay rate. If the stock market rates increase, the annuity will increase your payment rate. So, if you want to manage your finances efficiently, you should always go for buying an annuity. But before you dive into it, you should also keep an eye on some of the factors and features and do a little research about annuities. Let us have a different look. In addition to the above content and according to a report by Lincoln Investment Firm, even current generations contributing mostly in the present might not share this viewpoint. However, according to recent statistics from providers, 80% of youngsters prefer investing in financial instruments such as annuities, which they feel provide good conditions for development and security. This report concluded that youngsters want to buy insurance services in the coming five years, doing just that “in increasing proportions than it has ever been,” referring to these individuals as “young shareholders.” According to the survey, millennials’ annuity holding has increased significantly since the Great 2008 recession, and it has continued to do so. This growth is attributed to factors including bond yields and price fluctuation Fundamentally, among its advantages, annuities may provide a guaranteed stream of income, provide lifetime saving, aid in financing retirement, keep you safe from financial crises, make your life better even after retirement and some of them also keep you away from the issues and payment of tax until the payment is withdrawn. Tim Seifert, senior chairman and general manager of Retirement Solutions Distribution at Lincoln Financial Distributors, said because of the varying levels of experience of the youth of today’s generation, individuals under the age of 40 are looking for financial choices to try and secure and increase their income. He added and advised that today’s youth and the generation who invest are technologically aware and used to completing their study. In addition to the above content, we can summarize that according to the general manager of Retirement Solutions Distribution at Lincoln Financial Distributors, about 25% of the participants agreed that, given the current environment of interest rate, an annuity is indeed a wiser option for development potential than a bank account. However, the survey found that just 12% of respondents were aware of the possibility of tax-deferred growth offered by an annuity. According to Lincoln Financial, among the country’s biggest providers of annuities and health and life insurance, the massive investment in an annuity may grow tax-free when it is withdrawn, increasing the opportunity for growth and development. Annuities containing advantages, however, provide you with life insurance protection unlike other financial products of insurance and may assist in guaranteeing that the funds of retirement are preserved even in the event of downfalls in the stock market and will pay you according to the dealing. Also, if the market goes up, the percentage of interest will not fall. In contrast, they claim that annuities may be a little expensive, come with fees and surrender costs, and might not provide the same yield or profit as a conventional investment. Also, investment in other contracts or products can give you less profit if they suffer from any loss. Most millennials cited uncertainty and loss in the stock market as their top concerns (61% and 63%, respectively).
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Helping people plan a secure financial future > REDUCE YOUR TAXES > CUT YOUR INVESTMENT COSTS > PLAN YOUR RETIREMENT > MEDICARE SOLUTIONS MADE EASYWE HELP OUR CLIENTS CONSERVATIVELY MANAGE THEIR INVESMENTS AND MAXIMIZE THEIR RETIREMENT INCOME.FRANK URBAN is a well-known financial speaker and educator in Charleston, South Carolina, and is President and Founder of The URBAN Advisory Group LLC, A Registered Investment Advisor, URBAN Healthcare Solutions For Seniors and is a Federal Employee Benefits Specialist. His expertise is helping retirees and those soon to retire avoid common, costly financial mistakes. For over 30 years Frank has been advising retirees and pre-retirees, including past & present employees of the U.S. Government, Veterans and their families, and many past and current owners and employees of local businesses as well as those from out of the area who choose to relocate to Charleston.He is/has been a member of the National Ethics Bureau, an organization that promotes consumer confidence by providing a source to verify business ethics for financial and insurance advisors. Frank has lectured widely on financial topics, hosted a Safe Money and Retirement Radio Show on WTMA 1250AM and speaks regularly to investors in greater Charleston and the surrounding areas. He attended Northeastern University and served in the United States Marine Corps. Frank has 4 children, 9 grandchildren and 9 great-grandchildren and lives West of the Ashley with his wife Donna. Office: (843)556-7400 Email: [email protected] Cell: (843)729-8667
