One of the hard things to figure out right now is what the annuity rates are doing in this current market. Trying to determine the best time to buy an annuity for your income is hard enough, but waiting each day can cost you money.

Annuities are paid based upon the interest rate that is set when you purchase the annuity. Since the markets are up and down each day, it can potentially cost you money in your retirement if you wait one more day to fund your annuity.

However, it can also save you money depending upon what the rates are doing that particular moment that you “sign on the line” and purchase your annuity. There are several options that you can choose from to secure your annuity interest rates, however most people rely upon fixed or variable rate annuities.

Both the fixed and variable rate annuities have benefits and drawbacks to them. You need to learn the most about your options and determine what your financial needs in the future will be in order to make sure you properly fund your annuity with the best annuity rate.