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7 Things to Know About a Variable Annuity

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2. Be Wise and Invest Tax-Free.

As a young adult (or adult of any age for that matter), investing is something that makes sense if your financial situation allows at a young age. One of the best reasons to look into a variable annuity is for the tax implications. The variable annuity is an investment in which you put a certain amount of money into the investment, all without paying taxes on it. The great thing is that the annuity compares nicely to the IRA in that you have no limit on how much you invest in every year. If your financial resources allow, you can put in as much as you can, pay no taxes while investing, and be rewarded with the benefits when you retire. Make sure to discuss any questions you may have with a qualified professional so that you can make the best decision for your future.

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