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Annuities can help provide income during retirement

Posted On Wed, October 20, 2010

When the economy took a turn for the worse, an unsettling reality came to light for many investors. A number of people found they weren't on track to retire with as much money as they hoped.

Now, many Americans realize the importance of having a steady stream of income in their later years. One way to do this is with an annuity. Such an investment can offer security to those who are concerned about having funds to support themselves in retirement.

Nationwide Financial individual investments senior vice president Eric Henderson notes that in addition to income, it's also important for people to receive customized plans.

"Today's advisors are not only looking to help clients generate a guaranteed stream of income in retirement, but are also searching for ways to give them more control over their retirement assets," says Henderson. "Fixed immediate annuities are one way for advisors to address this need and can be customized to fit a client's unique situation."

An annuity is just one way consumers can help prepare themselves for retirement. It's always wise for people to invest in their company's retirement plan and fund an IRA account.

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