The Financial Products series, to briefly explain and evaluate a wide variety of financial products/ This series should be useful to anyone who wants to gain a brief knowledge of different financial products.
This article is the sixth in a series of 12 that outlines in simple terms different financial products, how they work, advantages and disadvantages, and how I would rate them. The Products that this series will cover are:
- Structured Products
- Current Accounts
- Savings Accounts
- Certificate of deposit
- Treasury Bills
- Tracker funds
What is an Annuity?
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Annuity and Taxes
What are the different types of Annuities?
Everyone will need a pension at some point (the earlier the better) and hence an annuity is a good way to receive a regular income, after administration charges, movements in the underlying fund and taxes.
Advice: Speak to a financial adviser to see what sort of pension and annuity suits you. Furthermore, check if your employer has any sort of pension scheme and try to maximize it each month, especially if the company matches your contributions.
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