Difference between an Annuity & IRA
Individual Retirement Accounts (IRAs) and annuities are similar in some ways. Both investments allow you to grow your money on a tax-deferred basis, and you can even invest in an annuity within an IRA. There are significant differences between IRAs and annuities, however, and it pays to know the facts about both.
- Contribution Limits
- Conclusion :- While annuities and IRAs are often used to accomplish the same purposes, these two methods of saving money work towards their purposes in very different ways. Each type of account has advantages and disadvantages, and this comparison of IRAs vs. annuities should not be viewed as exhaustive. If you would like more information on IRAs and annuities, or if you feel trapped by having an annuity inside your IRA and want to make changes, call Janguard today at 800.571.6341.