Retirement accounts are an important part of everyone’s financial plan; they provide a supported income stream in the future when you no longer have to rely on employment income. One type of retirement account that may give you added reassurance is a secured guaranteed retirement account (SGRA). But what is a secured guaranteed retirement account? In this article, we’ll discuss what an SGRA is, how it works, and why it might be worth considering for your own retirement plans.
What is a secured guaranteed retirement account? Well, it offers an advantageous combination of features from both fixed annuities and regular savings accounts. When you invest with an SGRA, your money will be taken care of by the insurance company offering it; they guarantee a minimum rate of return on your investment. Additionally, due to this protection from market fluctuations provided by the insurer, your money is safe no matter what happens in financial markets.
An SGRA contains a fixed annuity and comes with a savings account that accumulates interest on your investments and provides access to your retirement funds. Furthermore, you can withdraw from the savings account portion of this plan without incurring penalties or charges — as long as these limits are met.
If you’re looking for a safe and secure retirement savings option, an SGRA may be a perfect choice. It is designed to guarantee a fixed rate of return while protecting your funds from market volatility. Just remember that potential returns with this type of account may not always match those offered by other investment vehicles, as there are often fees and restrictions associated with the use of SRGAs.
Making an informed decision about how to invest your hard-earned money for retirement can be a daunting task. Luckily, you now have enough information to answer the question: What is a secured guaranteed retirement account? Make sure you research and evaluate other retirement accounts before deciding which one suits your needs best, and stay informed about changes in legislation that may affect your investment strategy to ensure a secure and comfortable retirement.
