Investing in a retirement annuity is a great way to ensure you have a steady and financially stable retirement. This is possibly one of the most important decisions you will make for yourself.
A common mistake that people make is when they run out of money, they start digging into important savings. Luckily with RA’s you can’t withdraw any funds pre-maturely which means that the money you are saving will remain as an investment until you can release the funds once retired.
Let’s assume that one day you run into some trouble and end up having to pay back debt or worse, you become bankrupt. The advantage of an RA is that in this situation, this fund will remain safe and untouched from creditors. There is no right over your saving from any creditor or bank.
Peace of mind
With so many surprises and unplanned activities taking place all around us, it becomes a scary thought when you think about old age and planning for the unexpected. Having funds aside to live in your old age will give you the peace of mind that you will be taken care of and won’t need to rely on anyone.