With so many Americans alive at retirement age, it is no longer feasible to rely on Social Security to provide any income once you retire. At current, anyone born in 1972 or later can expect to receive no Social Security income when they retire. This is a sad fact of life, but it is very true.
In order to insure your future and your retirement it is imperative that you invest in an annuity. If you are already at retirement age and finding yourself in a bind then you should use an Immediate Annuity Calculator.
An Immediate Annuity Calculator is used to calculate the interest on a specific type of annuity called an immediate annuity. This type of annuity is typically purchased from your Age calculator insurance agent and is an investment that requires you to have a great deal of up front cash, but supplies you with income for the rest of your life once you retire. Using an Immediate Annuity Calculator can help you decide how much money you would need up-front in order to live comfortably for the rest of your life.
An immediate annuity is not actually considered a long term investment. Essentially, an individual who has not planned in advance for retirement, or has found that their initial investment for retirement have fallen through, uses the immediate annuity to assist them in filling the financial void that retirement is going to leave. By using the Immediate Annuity Calculator, you can determine how much the difference is between what you are going to be actually getting from another source and how much you will need to remain comfortable.
An Immediate Annuity Calculator can be found on-line by doing a search for Immediate Annuity Calculator. The Immediate Annuity Calculator has three boxes for information, the first one is how much you have available to invest, the second box is the interest rate that you expect to receive, or what has already been quoted to you, and thirdly, how many years after retirement you expect to live. Be generous when filling in that cell, the average life expectancy of a man is 82 and a woman is 89, with those numbers being the median, you could very well survive to be 100!
Once you have put these numbers in the Immediate Annuity Calculator, you press the calculate key and you can see how much your investment is going to yield you weekly, monthly, and yearly. This will give you a clear idea if what you have to invest is going to be enough for a secure investment such as an annuity, or if you need to take a bigger risk and seek a more volatile, yet higher yielding, market for your investments.