Impact Wealth Podcast - Why Would Anyone Buy An Annuity?

http://impactwealth.com Why would anyone purchase an annuity? Listen to Jim Teegarden at impact wealth and listen for yourself!Fixed Annuities are long term insurance contacts and there is a surrender charge imposed generally during the first 5 to 7 years that you own the annuity contract. Withdrawals prior to age 59-1/2 may result in a 10% IRS tax penalty, in addition to any ordinary income tax. Any guarantees of the annuity are backed by the financial strength of the underlying insurance company................Asset Allocation does not guarantee a profit or protect against a loss in a declining market. It is a method used to help manage investment risk.