Depending on your financial situation, you may feel like saving and pursuing financial “investments” isn’t something feasible now or an option that you can even think about. You may feel like making investments are for “other people.” Perhaps you don’t feel this way at all; you are on the fence about whether investing your money now in life insurance or in an annuity is a wise choice, or maybe you’re curious about what your options are and want to know more.
The financial planning advisors at Naples Life Insurance and Annuity Advisors understand that for many, the word “investment” has a variety of meanings for each individual, depending on a person’s upbringing and their persistent financial situation. To begin with, our financial planning advisors want you to know the very basics of why investing in life insurance and an annuity is a positive option for you:
Greater Peace of Mind
The basic idea behind life insurance and an annuity is to have peace of mind, because with each of these financial investments, you are preparing for the future. A life insurance policy will help you know that, when you are gone, your family is taken care of and that all costs directly a result of your passing and those that follow are covered. Life insurance can cover: Final costs such as funeral and burial costs; replace your income for your dependents; pay off your debt still owed after death; pay for estate and related taxes; and make a sum available for a charitable donation.
Opportunity for Growth
Depending on your investment type, you have the opportunity for your money, that you have invested to grow. Also, depending on your investment, the money you put aside won’t be touched by taxes. We all want our money to increase in amount over time; stay up to date on our blog to learn more about the basics of investing and talk to one of our financial planning advisors to see which investment could be most profitable for you and your specific financial situation and goals!
Practice Good Financial Behaviors
Investing in life insurance and an annuity can help you develop, or stick to, good financial behaviors, because you are thinking about your money in a completely new way: Instead of thinking about what you can do with your money, you are asking, “What can my money do for me?” You will have a more positive outlook on money and even your life, as well as practicing positive spending and budgeting habits that will only lead to more peace and prosperity for you.
Preparation for Your Future
An annuity is one of the best ways to prepare for your future because it is a means of preparing for your future retirement. An annuity is a contractual agreement between you and an investment firm stating that you will pay a lump sum of money or make a series of payments that will be released to you at a designated time in the future: An annuity is your income during your retirement. As a life insurance policy gives you a peace of mind when you think of your family when you are no longer able to provide for them, an annuity can give you a peace of mind that you will have financial stability during retirement.
Why You Need a Financial Planning Advisor
Above, are the very basics of why investing in a life insurance policy and an annuity can benefit you now, and into the future. Stay tuned for more blogs that will dive deeper into financial planning and retirement planning topics. Also be sure to contact Naples Life Insurance and Annuity Advisors to understand financial opportunities unique to you and what kind of investments you are able to make.