Investing is a great way to achieve your financial goals. However, you might be investing in the wrong products without realizing it.
Investors face myriad challenges today as they attempt to earn high returns in order to fund their retirement. With low interest rates, high fees, and difficult-to-understand investment products, it can be tough for investors to increase their portfolios’ growth. Most want to grow their nest eggs, but don’t know how to get higher returns.
Variable annuities were originally designed to offer retirees a steady and reliable cash flow during retirement. For Americans who fear running out of money in retirement, variable annuities might seem like a great investment. But beware: they’re rarely the ideal solution for replacing your paycheck during retirement.
You know that you need to plan for retirement. And like most Americans, you probably use mutual funds in your portfolio and 401K to save for retirement.
As an investor, you know that you have to diversify your portfolio. Diversification reduces your investment risk and helps ensure that you don’t lose all of your hard-earned retirement savings if things go south. So you might have already invested in real estate and in your company’s stocks, and now you’re looking into mutual funds.