Your IRA income can be greatly enhanced with the use of an annuity bonus. When used right it can be a major increase to your IRA income but when used wrong it can do more harm than good. A good place to start is a thorough understanding of how to make an annuity bonus work for you.
An annuity bonus is basically an incentive from the insurance company to attract your business to a certain company. Originally they were promoted as help in recovering losses and surrender charges but since most annuities do not allow a straight lump sum withdrawal of the money this idea is not really true. You could say it was true and it is kind of but it is a little bit of a stretch. The annuity bonus is really meant to increase your retirement income in the future.
Example Case Study
Let’s work with an easy small number to give a good example. If you invested$100,000 into a bonus annuity to create IRA income and you got a bonus of 15% you would then have $115,000. The amazing thing is that you now have $115,000 earning money for you. If you were invested in a CD then you just got 3-5 years of earnings in one move, amazing!