When you think of Wealth--what comes to mind? An older gentleman dressed in a tuxedo with a top hat? Times have changed.
Wealth comes in many forms: land, houses, cars, portfolios, business ownership and assets, etc.
etc.
What seems to be on everyone's mind these days is how to protect the wealth that they have accumulated and not lose anymore in the markets! Many individuals have turned to annuities to help protect their life savings from further decline! Annuities have always been around for a very long time.
Actually they date to the revolutionary times when Benjamin Franklin used annuities to help the Cities of Philadelphia and Boston provide funds for their citizenry.
Another famous American, Babe Ruth, used annuities as a safe haven during the time of the depression.
The "Babe" used annuities to avoid the risk of the stock market and thus was not hurt by the stock market crash of 1929.
He used annuities to provide a lifetime income for his wife and also for himself prior to his death.
These days there are far too many types of annuities.
The ones that are preferred by many clients are the plain, old vanilla type: fixed annuities.
It is simply safety of principal plus interest.
Interest on principal, interest on interest and interest on tax savings! Knowing that you put your hard earned money on deposit and it earns a competitive interest rate that compounds each and every year has become the new peace of mind for many safety conscious individuals!