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Wednesday, December 14, 2011

Retirement savers are generally wise to take full advantage of the tax benefits that apply to employer-sponsored retirement plans and IRAs. However, because these tax-deferred plans are subject to strict annual contribution limits, many higher-income individuals may not be able to set aside enough money in them to pursue a comfortable retirement lifestyle.

Because a variable annuity is not subject to federal contribution limits, it enables investors to invest more after-tax dollars to supplement the income they could receive from other plans. Taxes on earnings are deferred until withdrawn.

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