Myth: Annuities are used as a scamming tool
Many people shy away from buying or even thinking about annuities because of their ill-earned reputation as a scamming tool, especially for seniors. However, most people make this judgement before researching thoroughly on the subject or talking to a proven agent with a reputable retirement planning company with a proven track record (such as those at RPS) who have been dealing with annuities for decades. When and only when annuities are structured properly, they can prove to be one of the most useful tools to manage income during retirement. At RPS, we have your best interest at heart.
Fact: When structured properly, annuities are one of the best ways to have guaranteed income during retirement
Myth: All types of annuities are risky
There are two types of deferred annuities: fixed and variable. Fixed annuities are guaranteed with interest accumulation on your investment. If the investment is better than the minimum guarantee, you might get higher interest rate along with your monthly income. In variable annuities, your money is distributed among different accounts, with value fluctuation being reflected in your accumulated amount. Therefore, it contains a greater risk than fixed annuities. At RPS, we only deal with fixed annuities, eliminating your concerns on losing your money.
Fact: Fixed annuities come with a guarantee of income and interest every month