Fidelity Investments put out a press release yesterday letting consumers know that they have extended their product line due to demand from pre-retirees. They will now be offering deferred income annuities to go along with their immediate income annuities. With 7,500 or so people turning 65 daily, there is an increasing demand for guaranteed lifetime income in retirement. They can use part of their savings or 401k to purchase a deferred income annuity that will set them up to receive payments at a date in the future that they will need them. There is an increasing demand from pre-retirees who want to have themselves set up for future payments before they actually need them because of uncertain markets and volatility.
Pre-retirees can take control of their financial future by purchasing a deferred income annuity. Fidelity Investments says that their new product offerings are best suited for pre-retirees between the ages of 55 and 65, who are looking to retire in the next 5-10 years. Since they are buying their annuities in advance of needing the payments from them, they have a good chance of getting higher income payments in the future. The first annuity that Fidelity is offering is the Guaranteed Future Income Annuity II from New York Life. Between the time that you purchase this deferred income annuity and the time you receive your first payment, you can make additional premium purchases or change the date when you will receive payments. Fidelity welcomes any questions about their new deferred income annuities online, over the phone, or in their 171 centers nationwide.
Written by Rachel Summit
Follow Finance Mama on Twitter https://twitter.com/#!/financemama
