The great thing about fixed indexed annuities is that they are a reliable retirement planning vehicle appropriate for people in a variety of life stages. However, there are a few rules of thumb to follow when thinking about purchasing a fixed indexed annuity. Of course, always speak with your retirement planning professional to see what makes most sense for you and your family.

• Mid-40s to mid-50s is a great time for many people to consider purchasing a fixed indexed annuity. Keeping a portion of your retirement pie protected is often important for those approaching retirement age in the next 10-15 years.  Knowing that you could have some guaranteed annual income from an annuity in retirement gives you the peace of mind to pursue additional growth investments and take care of family obligations.
• In your mid 50s-60s, you’re more likely to be looking for safe options—you can’t necessarily afford to take the risks you previously could since it will be difficult to recover massive hits to your portfolio. Indexed annuities are extremely popular with this age group because of option of guaranteed lifetime income these products can offer.

Unlike some other retirement savings vehicles, there is no limit to how much money you can put into a fixed indexed annuity or certain age at which you’re eligible to buy a fixed indexed annuity. In an era where many are looking for peace of mind and protection, it’s worth thinking about when considering if a fixed indexed annuity may be right for you.