In this economy many people are losing their jobs and have been forced to think of other ways to make ends meet. One option that is becoming more and more common is the idea of self employment. Although this can be a great thing the downside of this is that people may not get the same benefits as they would if they had a regular job, such as access to employer provided annuity plans.

best option for these people would be to look into investing in a non qualified annuity plan. A non qualified annuity plan can be incredibly beneficial, especially for certain types of people.

Non qualified annuities for self employed people

Being self employed has many advantages. The major advantage is being able to work for yourself which can potentially give you more time to spend with your family. You do not want this time to be spend worrying about how you will prepare for retirement though do you?

A non qualified annuity allows you to have many of the same benefits as you would if you had a regular job so you can save for retirement. The only downside being that your savings will not be matched by an employer seeing as how you are your own employer.

Contributing to non qualified annuities when you want

Maybe when you had a job you were only able to contribute only a certain amount to your annuity plan. Maybe your employer told you they were only willing to match it a certain amount before they would not match it anymore. With a non qualified annuity plan, seeing as it is not part of an employer retirement plan, you can contribute to it as you want when you want.

Of course you still want to be careful so that you do not go over the specified limit set by the company providing the plan, this is for tax purposes.

Using non qualified annuities for someone else’s benefit

Is there someone in your family who you feel could probably benefit from having some help with their retirement? Assuming this person does not have such a plan at their job, you can use non qualified annuities to help set that person up for retirement. Seeing as how these are privately purchased, you can set these type of annuities up for whomever you want.

Non qualified annuities are good options for those who are out of the traditional job market, or for those who want more control over their own retirement. All you need to do is make sure you understand the specifics before signing on.