If you’re a Northwest Arkansas resident, and you’re interested in boosting your income without getting a second job, you may have been researching multiple ways to achieve your goal. Investing may have crossed your mind, but it can be risky. One income-boosting tactic that many consider, especially when preparing for retirement, is financial annuities. Financial annuities provide a steady source of income after a lump sum or other types of payments have been made. These payments can be automatically deducted from your paycheck depending on your employer, or you can choose to seek out an annuity on your own.
What Type of Annuities Are There?
There are three primary types of annuities: fixed, variable, and indexed. Fixed annuities offer a steady, guaranteed income, and the payments of variable annuities will depend on how well the annuity holder does with investments. Therefore, the payments could increase or decrease. The payments from indexed annuities will be aligned with a specific index market, such as the Dow Jones Industrial Average (DJIA). Choosing a type of annuity will depend on your primary goals, when you’ll need the payments to begin, and other factors.
As you can see, financial annuities can be a great way to receive a steady income, especially during retirement or when you cannot work. If you’re in the northwest Arkansas area and interested in getting started with annuities, we at Adams Insurance & Financial can help you. At Adams Insurance & Financial, we pride ourselves on going above and beyond to ensure all our customers’ needs have been met, if not exceeded. Contact us today so we can provide you with more information about our annuities and help you quickly improve your future financial situation.
