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Unlike a 401(k) or an IRA, there are no limits on the amount that you can invest in annuities.

Whether youíre considering a deferred or immediate annuity, the amount of money you should consider putting into annuities depends on:

  • Your immediate actual and potential financial needs
  • Your long-term financial goals
  • Your current savings/investment portfolio
  • The range of alternatives available to you

Of these, the most important is your immediate actual and potential financial needs. If youíre buying a deferred annuity and you have a sudden need for cash, you can usually withdraw a small amount without penalty. However, youíll likely pay a penalty if you make a large withdrawal within a few years after youíve bought the annuity. If youíre buying an immediate annuity, you usually canít get any more than the regular payments, no matter how badly you need cash. However, if you have other sources of cash that are sufficient for any emergency or unforeseen needs, then the immediate needs criterion is satisfied and the other criteria become more important.

Portions courtesy of and © Insurance Information Institute (www.iii.org) Copyright © 2001-2017 Aloha Insurance Services, Inc. Kona HI All rights reserved.
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