How To Increase Your Retirement Income
During the period approaching your retirement date, or very soon after, you may well have been, or are already in the time of action of sorting out some form of annuity to give you an income for the rest of your life. Whichever means you have used for your savings up until now you have, at this stage, to turn your nest egg into a regular income. It is very important that you take sufficient time to consider all the various possibilities in doing this, as once your choice is made, the decision cannot be reversed.
Before starting to make your choices, it would be advisable to familiarise yourself with some of the fairly simple and self-explanatory terms used in the retirement annuity industry. Clear explanations of the terms, and the choices obtainable to you, are given on The Pension Advisory Service, abbreviated to TPAS, website.
Once there, select the sub-heading Annuity Planners.
The TPAS is an independent advisory service funded by the government. Here you will learn that the thing you’re looking for is often referred to as a Lifetime Annuity.
It would be a bold person indeed, who could claim to be able to provide a more informative, and simple set of web page guidance!
Once you have a basic understanding of the language used, and the basic choices obtainable to you, there is plenty of further advice obtainable, but almost certainly the best starting point is the free, and impartial advice that is given on Government Service websites, You can access these by searching for Money Advice Service.
Over and above all the general advice on money matters, and particularly those relating to annuities, is a list of possible annuity providers, selectably shown in descending order, of the monthly income possible under several selectable criteria. These are shown by clicking on one of the tabs marked Comparison Tables.
Disappointed in the figures shown? Don’t worry; a successful business in Internet marketing can considerably increase your income.
There are several choices to be chosen when you are at this stage of picking out one of the annuity providers from your shortlist of possibilities. Again, each selection deserves due consideration. There is no harm in repeating that none of the selections can be reversed once you have signed, and committed yourself to an annuity contract.
From wherever you start, you will have, at some point, to consult an individual company for a quotation. If you consult them online, most, if not all, offer you a pension calculator asking for the same information that you are familiar with if you have used the Government service websites named above.
Whilst you are on the homepage of an individual company from whom you are seeking a quotation, look along the subheading tabs at the top of the page, and you may well see a tab which includes the information “affiliate.”
If so, bear it in mind, as it could form a part of your future online business!