Where to Sell Annuities Connection
Annuities are fast becoming a big part of a person's retirement program.
While a lot of people are actually using them for the future, there are
also others that avails of an annuity plan and then sell it off to
others. These individuals have two ways to sell it. They can sell the
product by themselves or they can ask a financial agent to do the job for
Retirement annuities can be obtained also in two ways. It can come in the
form of your employer's 401(k) or it could come from your own Individual
Retirement Account or IRA. Generally speaking, retirement annuities can't
be withdrawn until after the owner reaches 60 years of age. While it is
possible to get all your money before such time, the proceeds are subject
to a penalty of ten percent.
For people who know how to handle their money and resources, they would
avail of multiple retirement annuities for themselves with the sole
purpose of selling the others to other parties. They would just leave a
good portion for their own use. Selling annuities connection is a good
way to ensure yourself that you have enough money for your own retirement
and still earn a good amount from some of it as well.
Selling retirement annuities by your lonesome sounds like a good idea.
For starters, you would be getting all the proceeds by yourself. You can
also increase or decrease the asking price of your annuity. The last call
is on you and you'll be solely calling the shots. The final decision
whether you will sell your annuity or just let is stand for your own use
depends up to you.
However, selling annuities through a respectable financial company has
its advantages as well. First and foremost, it would relieve you of all
the legalities and paper work associated with the transfer. Your chosen
financial company would be preparing all of them for you. They would
assume all the legwork and you'll just sit in your corner and wait for
the sale to materialize.
Furthermore, the burden of looking for buyers is on them. Financial
companies who are an expert in selling retirement annuities have a long
list of interested clients that they can call anytime. The whole
transaction would be much faster with them on the helms primarily because
they have the right connections. If you try to sell your annuity on your
own, you might have to wait several months before a genuinely interested
buyer would come by and seal the whole deal.
If you choose to sell your annuity through a financial company, there
will be no effort or worry exerted on your part. On your perspective,
everything would go smoothly because somebody else is doing all the hard
work for you. You will be notified right away if a sale would transpire.
All you need to do is to sign a few papers and you will receive the check
However, you can't really increase or decrease the total sale amount of
your annuity if it is sold through an agent. The annuity will be sold
according to it current market value. And you'd pay a certain percentage
of the sale to your chosen financial agent as commission.
You might end up with lesser amount than you have expected, but it still
is way above what you have initially invested.