From Yahoo Finance: 2025-06-04 07:07:00

Many Americans are falling behind on saving for retirement. Experts recommend saving at least one year of income by age 30, three times by 40, six times by 50, and eight times by 60. Diversify your portfolio with high-yield savings accounts, stocks, bonds, and mutual funds to secure your financial future.

To complement retirement savings, consider annuities. Annuities provide a steady income stream and remove longevity risk. Annuities have two phases: accumulation, where funds grow, and annuitization, when you start receiving payments based on your contributions, account performance, and selected distribution.

Annuities offer steady returns and growth through interest earnings. Finding the best rates is crucial for maximizing your retirement savings. Choose from different types of annuities like fixed, variable, deferred, and immediate based on your financial needs and goals. Research thoroughly to find the best option for guaranteed income in retirement.

Read more: Here’s One of the Best Ways To Boost Your Retirement Savings in 2025