There are a lot of different financial vehicles that you are able to use along the way. You need to take a look at them and compare some of the different components like how long you need to keep them open, how high the return is, and the other rules that come with it at the same time. One of the options that you can go with is an annuity and many people who go with this will choose to go with the MYGA.

Depending on your situation and some of your finances, the MYGA is going to be a good option. But before you are able to do this, you need to look at what the current rates are. This is hard to determine because the rates can change each day and each carrier will set the rates different as well. This is why you will need to spend some time researching to make sure that you can get the best rate on your annuity.

For example, as of May 2024, the best rate that you could get for a 10-year MYGA is 6%, while one that was 2 years long was at 5.5%. This is a pretty good rate, but there have been some situations where it is higher and sometimes it is lower. You will need to watch the market to see when you can get the best rate for the MYGA. The longer you keep thee annuity is open before you take out the money, the more you will earn.

The good news is that the rates you can get for the MYGA will often be higher than CD rates, and they can be tax deferred, which is going to make the return on them a little better. If you choose to go with a contract that limits how much you can withdraw and has more stipulations on how to do this, then you can get a higher rate. Always shop around and see what you can get from different carriers before signing.

If you are considering an MYGA for your financial needs, then you need to come and take a look at the annuities that we can offer. We are confident that we will provide you with the best annuity options for your needs, ensuring that you will not spend too much in fees and you are able to get ahead with some of your retirement planning. We can compare the MYGA and some of the other annuity options to see whether they are right for you. Contact us today to sit down and take a look at some of our great financial products.