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Why investing in a retirement annuity makes good investment sense
1. It provides a kickstart to your retirement savings plan.
Whether you are a full-time employee, or self-employed, an RA can propel you on your retirement savings journey – as a standalone solution, or as part of a retirement savings plan.
2. It offers flexibility. You can pause or reduce your RA contributions if you need to do so.
3. You can enjoy tax benefits. A portion of your contributions is tax deductible, and you also don’t pay tax on interest or capital gains within an RA.
4. It ticks many retirement savings boxes. An RA potentially offers you the opportunity for investment in a wide range of funds, risk-profiled solutions and share portfolio
5. It’s affordable. A small monthly investment can make a big difference in your retirement savings outcome years from now.
6. Your savings are protected from your creditors. Your retirement annuity investment is protected from creditors – they won’t be able to take from your savings.
This ensures that your savings will be available when it is most needed and for what it is intended – saving for retirement.
7. You can’t touch it. Well, not until you’re at least 55. Once you invest in an RA, it’s for the long haul.
Years from now, you’ll be so thankful for committing to an RA until you reach retirement age.
8. It’s all about you. The underlying investment options of your RA are selected based on your particular risk profile.
Every investor has different needs, a lifestyle and risk appetite that can change over time. Establishing your risk profile, based on your life stage and financial needs, is a critical first step on your retirement savings journey.
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