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In addition to the common IRAs, there is also a category of "personal annuity retirement accounts" on the market.What is the English name of this retirement annuity product?What is the difference between IRAs and common IRAs?American Life Insurance Guide©️ will explain and compare in this article.
XNUMX. What is an individual retirement annuity account?
An individual retirement annuity account, called IRA Annuity in English, is like an individual retirement account (IRA), a financial management channel for the purpose of retirement savings.
Opening a personal retirement annuity account refers to an individual purchasing an annuity product from a life insurance company.
XNUMX. How to calculate the income of individual retirement annuity account?
Behind the personal retirement annuity account,May be aFixed-income annuity products, It may also be an index-income annuity product, or it may be a securities-income annuity product.
Fixed-income fixed-deposit annuity products will give a fixed annualized rate of return, such as "Save for 5 years and give a fixed savings rate of 2.5% per year". Index-type and securities-type annuity products are linked to the performance of different market indexes or investment products, and the final returns are determined by the comprehensive performance indicators of specific annuity products.
XNUMX. What are the advantages of individual retirement annuity accounts?
If we buy stocks on our own, we need to pay taxes on annual earnings and dividends.After depositing funds into the personal retirement annuity account, the annual income of the annuity account will not be taxed in the current year.
The characteristics of this delayed tax payment, Is the advantage of individual retirement annuity accounts.
XNUMX. The difference between IRAs and IRAs
As individuals, we can apply to banks, securities companies, trust companies and other financial institutions to start individual retirement accounts (You will go), you can also apply to a life insurance company to open a personal retirement annuity account (IRA Annuity).
Individual retirement annuity accounts and individual retirement accounts,The biggest difference is that the investment target is different.
Individual retirement annuity accounts opened in a certain life insurance company can only purchase their own fixed deposit, index, or securities annuity insurance products; the annuity insurance products issued by different insurance companies have different risks and performance indicators.
For IRAs, you can usually choose a wider range of stocks, bonds, mutual funds, gold or real estate securities derivatives.
XNUMX. Who is suitable for personal retirement annuity insurance?
In the market, there is a lot of discussion about whether the annuity has finally reached its goal, retirement annuities and IRAs, benefits and costs, and other issues.
Some fixed deposit annuity products usually have no cost, and even offer incentives to attract depositors like banks, but the disadvantage is that the returns are conservative.And some accumulation-type annuity products that provide investment capabilities will charge costs in exchange for a certain amount of wealth management potential.
This type of retirement annuity account is not a panacea, nor is it suitable for everyone.In general, for thoseFor those who want to accumulate for retirement, require that their principal be protected from market fluctuations, and who want a guaranteed lifetime income, A reasonable choice of annuity insurance plan should be part of its overall retirement and family asset portfolio.
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XNUMX. Tips for purchasing personal retirement annuities
Different annuity insurance products are essentially different financial products.Therefore, with the same amount of money, if you buy different annuity products separately, after years of accumulation, there will be different differences in the cumulative income of each other.
This difference is unavoidable, but through the risk expectation management at the time of purchase, we can protect our own interests to the utmost extent.
In the process of buying this type of retirement annuity for myself,The current age is the most important consideration; secondly, according to the current age, correctly assess your own risk tolerance, and choose the matching annuity type; finally, according to the matching annuity type, according to the credit and asset management capabilities of the insurance company , Compare and analyze to get specific annuity products suitable for oneself.
(>>>Recommended reading:Comparison of advantages and disadvantages of American annuity insurance product types (2021 version))
Article summary
In a market environment where the financial industry is the lifeblood of the nation, competition in the U.S. retirement wealth management market is very fierce.Therefore, the real problem facing consumers and investors,It's not a matter of no choice.But there are too many questions to choose.Excessive marketing and different voices,Chinese consumers and investors who have just entered the U.S. retirement insurance market are overwhelmed and often get stuck in a dilemma of choice.
therefore,American Life Insurance Guide©️Promote LBYB – "Learn Before You Buy",Study before you buyInsurance concept, and provides information onDetailed descriptions and advantages and disadvantages of purchasing annuity insuranceIntroduction column.
When deciding to apply for personal retirement annuity insurance, with the help of professional annuity insurance consultants, you can find a retirement annuity insurance product that is really suitable for you by evaluating your own risk tolerance and comparing the expected output values of different annuity products , To maximize the protection of their own interests. (End of full text)
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