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When it comes to filling the gaps of your retirement income, an annuity can help. Designed to pay a steady stream of income in your retirement years, Farm Bureau agents offer two types of annuities:
You can begin to receive annuity payments upon reaching age 59 ½ (any earlier and you could be charged penalties). It’s up to you how you’ll be paid – one lump sum, annually, quarterly, etc.2 – and you can also decide how long you’ll receive payment with options ranging from one-time to a lifetime.
Annuities are often just one component of a retirement strategy that could include Social Security, 401(k) plans and/or IRAs. I can be a valuable resource when it comes to choosing an annuity as part of your overall strategy.