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A Fixed Annuities Rate Can Be Better Than Bank Savings AccountsHaving an emergency fund stashed away in a savings account is a smart idea. Having a way to access quick cash is key in an emergency. However, many people have too much money sitting in low-yielding savings accounts. Maybe you started off with a reasonable amount, but as time went on you kept making deposits and interest kept building up – and you have a rather large nest egg. Now, much of your savings is under earning because, as you know, savings account rates have been unusually low. Why not take a portion of that money and use it to buy a safe fixed annuity? A fixed annuities rate offers a conservative, tax-deferred way to grow your money. Experts recommend keeping three to six months worth of living expenses stashed away in an easy-to-reach savings account. Anymore than that, however, is being wasted. Most savings accounts do not keep pace with inflation, so you are simply losing money when you are depending on savings account interest rates. A fixed annuities rate often keeps pace with inflation and provides another rainy day fund for your protection. Some fixed annuities operate much like bank certificates of deposit. You’re quoted annuity interest rates for a number of different products and terms, and you choose the one that suits you best. You purchase a fixed annuity that specifies a certain time period, say three, five or 10 years. During this multi-year period, your money is securely deposited in the annuity earning a competitive interest rate. At the end of the annuity’s term, you are free to walk away with your principal and interest earnings, or you can roll over the money into another fixed annuity. And, as an added bonus, interest earnings within an annuity are tax-deferred until withdrawal. That means if you purchase a fixed annuity with a longer term, you won’t pay taxes on your earnings for years. So, while it is important to have a highly liquid savings account close at hand, it’s also crucial to not let too much money languish there. Take care of the rest of your hard earned cash by buying a fixed annuity. A fixed annuities rate can change weekly, so call the AnnuityAdvantage.com Specialists today at 1-800-239-0356.
¹ First year yield/rate reflects fixed rate plus premium bonus or interest rate enhancement. Interest is based on current rates and subject to change without notice.Send email to
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