Everything You Need to Know About Multi-Year Guaranteed Annuities

With interest rates elevated, a lot of retirees can once again buy low-risk assets that produce reasonable interest income for living expenses. As such, money is moving to CDs and Treasuries to take advantage of this.

However, with this move, a number of retirees are leaving money behind as they are overlooking an older style of annuity that functions similarly to a CD, the Multi-Year Guaranteed Annuity (MYGA).

The Multi-Year Guaranteed Annuity, also known as Fixed Rate or CD-type Annuities, is a type of fixed-rate annuity that provides a predetermined and guaranteed interest rate for a specified period of time.

The MYGA can be a very interesting asset for retirees who are looking for safety and peace of mind during their golden years.

In fact, if you feel like your savings just aren't growing fast enough, then MYGAs might be the game-changer you’ve been waiting for.

Want to learn more?

Then listen to this episode where we break down why the current high interest rate environment makes MYGAs an incredibly attractive investment option for you.

Let’s dive in!

Key Takeaways:

Introduction (00:00)

Let’s talk about MYGAs (02:21)

The difference between MYGAs and CDs (04:21)

Insurance vs banking (13:24)

Why you should invest in MYGAs (22:29)

Additional Resources:

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Retire With Confidence is a podcast that teaches listeners the best strategies to plan their retirement for a happy and financially secure future. Listen now and learn how to plan for your golden years. Follow us for more!