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The Impact of Interest Rates on Annuities

Considering how interest rates vastly affect a considerable portion of our finances, would it come as a surprise to learn they impact annuities, too? Typically, annuity companies adhere to the 10-year Treasure rate regarding interest rates. And usually, the majority of annuities improve as rates rise and suffer when they fall. However, the way an annuity reacts to changes in the interest rate is entirely dependent upon the type. How Interest Rates Affect Specific Annuities Interest rates have different effects on annuities, including Treasure rates. For example, fixed-rate annuities experience various effects, depending on the specific type. When it is designed to grow, the primary impact on the annuity is dependent upon interest rates. When an income rider accompanies your interest rate, the effect of changing interest rates will be less noticeable. The most important factor remains your overall life expectancy at your point of purchase.  Timing Interest Rates in Your Favor Many people are under the guise that they can wait out a specific interest rate for a more favorable one. Unfortunately, the answer to this idea is no. Considering how annuities are built as a long-term money-for-life contract and how unpredictable long-term interest rates can be, itâ€â„¢s impossible to ascertain a specific time for buying an annuity. Ultimately, an annuity can be used to accomplish a whole slew of financial goals requiring a steady stream of income. So, whether you are looking to improve retirement funds or meet other lifelong goals, annuities serve as a responsible route to financial stability.
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Craig Vukich

Craig E. Vukich is a 35 year retirement specialist and Financial Advisor who has helped thousands of clients all over the country with their investment portfolios and retirement strategies. In that time, Craig has also helped seniors and retirees with their Medicare options as healthcare continues to be one of the most confusing issues facing people today. Personally, Craig lives in Beaver Falls, Pa with his beautiful wife and childhood sweetheart Barb and their lovely daughter Shalyn. Craig is a graduate of Westminster College which is about an hour north of Pittsburgh. Craig is a recreational golfer and traveler and Pittsburgh sports fanatic.

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