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There is a moment that your gainful years will be at the end at a specific age. Retirement Certificate Templates is unavoidable for a representative, we all need to quit working and simply appreciate the rest of the long periods of our life very still.

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Fresh & Professional Templates | This Certificate Templates can be in the form of awards and gifts for anyone who has worked very long to retire, for example, teachers and military.

This type of certificate is also given as an appreciation for long-term hard work.if Long Service Certificate is an award for employees who have served for years, then the retirement certificate is the last certificate of their tenure.

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This Retirement Certificate can be a memento of years of hard work. A period where you never stop to achieve success from the field you are engaged in.That will look sweet and memorable experience.

In this article, I'm going to dive into the intricate world of annuities - what they are, my thoughts on them, and whether or not they are a good investment for your retirement savings given the current market.

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What is an Annuity?

An annuity is a financial product that straddles the fence between insurance and investment. With an annuity you exchange a sum of cash today -- typically from your retirement nest egg right as you begin to retire -- for consistent periodic payments in the future. How much that monthly payout is and how long it lasts depends greatly on the type of annuity purchased and lots of fine print.

Retirees often are steered toward annuities by financial planners because they typically have high commissions associated with them. Often these products are not the best choice for the retiree due to high fees associated with surrendering the account within the first five to seven years.

(In the meantime, the advisor has gotten his commission.) This has given annuities a black mark within the personal finance industry.

However, there are cases where putting at least a portion of your portfolio into an annuity makes sense. The option is definitely worth exploring. Let's dig into the details and underlying fundamentals of an annuity.

Types of Annuities

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There are two main categories of annuities

Deferred Annuity
Immediate Annuity

However, within each main category, there are various products that work in similar, but different ways. Let's look at some of the most common options.

Deferred Annuity

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A deferred annuity is an investment product that has two phases: a contribution phase and a withdrawal phase. A person not nearing retirement would elect to begin investing in a deferred annuity. In doing so they would make consistent contributions into the account which would grow with tax deferred.

As they invest the money through the years the account grows based on the investments selected. When retirement age is reached the retiree begins to take withdrawals from the account.

There is also an insurance portion where the principal and investment earnings are guaranteed to be paid out to your heirs if you pass before the annuity is completely tapped out.

Immediate Annuity

The second main type of annuity is an immediate annuity. Whereas a deferred annuity delays withdrawal of funds (or the receiving of an income stream from the annuity) an immediate annuity starts receiving income immediately.

A person that is set to retiree would choose this option, hand the investment company a portion of their portfolio, and in exchange get monthly payments in exchange for the lump sum.

Fixed Annuity

Fixed annuities have fixed payouts to the investor. When you go to purchase an annuity you are given options as to whether the payments are tied to inflation or if they stay at the same rate for the entire time. Having the payments tied to inflation costs more than getting the same payment for the entire period of the annuity.

For example,a 65-year-old man might exchange $250,000 of his portfolio for $1,418 in monthly payments for the rest of his life.

That's about 6.8% returned to him each year. If he wanted those payments to increase with inflation the next year -- to $1,460, assuming 3% inflation -- he might have to give up $300,000 or $350,000 of the portfolio instead.

At its most basic level, a fixed annuity acts like a certificate of deposit. Retirees can choose to give up a portion of their portfolio in order to receive the security of consistent payments to go along with other retirement income streams. Giving up the entire portfolio has its own risks and is usually not recommended, but trading in 25% to 50% can provide the monthly income security you might be looking for.

Variable Annuity

A variable annuity is the opposite of a fixed annuity. Instead of consistent monthly payments, the amount you receive is based on the performance of the investments within the annuity.

This benefit is typically put into a heavy 'sell' to a retiree. 'As the market goes up, your payments keep going up!'

As you might imagine this is not always the case.

Here are the risks to variable annuities:

If the underlying investments in the annuities sub-accounts go down, your payouts go down.
The investment gains within the annuity are taxed at regular income tax rates when you withdraw the funds. Compare this to your typical investment where holding it for more than a year means you only pay capital gains tax. The difference in tax rates can be significant especially for high-income individuals.
Variable annuities have high setup, maintenance, and surrender fees. For example, you might pay a 3% commission right off the top. For a $250,000 annuity that is $7,500! Then they hit you with management, investment, and insurance fees each year that can total another 3%. When you are trying to get better performance from the underlying investments you already are 3% or more in the hole before you even get started.
Lastly, if you decide you don't like the annuity in two years and want to cancel you end

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