Questions like this are best answered by your local financial planner. They have the experience needed to explain the sometimes complex world of finance in terms that anyone can understand. Before you take any action that will impact your financial future it is best that you consult a professional. Even if you are familiar with certain products that the financial planning industry has to offer, sometimes it is still wise to get another unprejudiced professional opinion.

Variable Annuities and Fixed Annuities are somewhat similar to insurance and they are often linked with 401k Rollover. When you purchase health insurance you will pay a certain amount into the policy every month. Then in the event that you get sick or are injured, the policies will payout a predetermined amount based on the plan and the extent of your injuries. Variable Annuities are similar because in most cases you will pay in a certain amount every month to the insurer. Once you hit specific age then the annuity will begin to pay you a certain amount every month. It is a great way to make sure that you have the money for a comfortable retirement and is very popular for that reason.

As an example, let’s say that you pay in 200 dollars every month for 10 years into fixed annuities. That would be a total of 24,000 dollars that was paid to the insurer of the annuity. If it pays out 1,000 dollars ever month for the rest of your life then any payments you get 2 years after the payments start is pure profit. Let’s say that you live for another 10 years after the annuities starts to pay and you would be looking at a gain of 96,000 dollars from a 24,000 dollar investment.

If you do a little research on Georgia Financial Services then you will find many different tips and tricks for using annuities. One of the most popular ways to use them is during a 401K Rollover. Once you reach the end of your career and are ready to cash out your 401k, you may find that you do not have enough money to last you the rest of your life. This happens most frequently when a person decides that they are going to retire early. Instead of taking that money and putting it into a savings account or some other low yield venture, you can put the money into Fixed Annuities. You will be giving up a lump sum but you will gain a steady income for as long as you live. It is one of the better avenues available to people for safeguarding their retirement. The monies needed for just normal living expenses is astronomical by the time you take mortgage, utilities, food, auto, repairs, medical and just the normal cost of living into consideration. It is very important to establish a plan on how you are going to manage this. This is where a Georgia Financial Planner will come in handy. The sooner the better!

Author Bio: Article was written by Craig Lawson on behalf of Keegan Investments, LLC. For more information on a Georgia Financial Planner, visit their website at http://keeganinvestments.com.

Category: Finances
Keywords: Georgia Financial Planner, Financial Planner of Georgia