Anonymous
At older age also less risk should be taken and new savings can channel from investing towards annuities.
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Pang Zhe Liang
15 Jul 2020
Fee-Based Financial Advisory Manager at Financial Alliance Pte Ltd (IFA Firm)
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The value of annuities is in the guaranteed cash flow.
Any time is good to buy for retirement.
To achieve the same level of retirement payout, starting later will definitely cost more than if you start earlier.
I get where you are coming from too, from a time value of money perspective.
There is no right or wrong. You will need to weigh against the risk you are undertaking in investments, while factoring in the opportunity cost of using the funds for investment or annuities.βββ
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Hariz Arthur Maloy
14 Jul 2020
Independent Financial Advisor at Promiseland Independent
Hi Anon,
Annuities are great to provide for income and capital preservation. So that isn't an age s...
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As always, the earlier the better. This is because we have the power to make use of compound interest to work for us. Generally, this means that we can reach the same goal with a lesser capital outlay, due to a longer accumulation time period.
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Moreover, it is always good to have a balanced portfolio. At the end of the day, investment yields only non-guaranteed returns. Therefore, a guaranteed step-up annuity will become a strong cushion for you to fall back on.
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