What is a retirement annuity?

A retirement annuity can be a multitude of things. One prime example is an IRA. This is an Individual Retirement Annuity. This is where you place your allowable tax deductible amount into a product to grow at the rate and within the guidelines of the product you have purchased with the goal of utilizing these funds towards your retirement in the future. You would pay taxes on this type of retirement annuity when you begin to withdraw the funds.

However, there are many types of retirement annuities, i.e. IRA's, Roth IRAS's, TSA's, 401K's 403B's, 503c's, plus non qualified annuities can be utilized for retirement. After researching and determining your goals you should set down with a financial professional to determine what would best fit your needs.