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Annuities Information

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Americans are living longer and spending more time in retirement. In fact, the average American will be retired for 18 years.  A retirement nest egg is probably the largest amount of money you will ever need to accumulate.  How will you do it?

Think about a fixed annuity.  Fixed annuities are a safe way to plan for a comfortable retirement.  You do so on a tax-deferred basis.  The money is protected from market losses, and you can get a guarantee that you will never outlive the income you receive from the annuity!
Unlike other investment plans, there is no limit to how much you can invest in an annuity. Your funds will steadily grow with a tax-deferred status, and you pay your regular tax income rate on only your earnings upon withdrawal.  

What annuity options are available?

An immediate annuity can begin paying you right away. You can choose whether you want your income guaranteed for a specific time period or if you want lifelong payments. The amount of your payments is calculated based on your principal and your life expectancy.

Multi-Year Guaranteed Annuity (MYGA)  Think of Multi-Year Guaranteed Annuities as a hybrid of a fixed annuity and a CD.  The MYGA guarantees a fixed rate for the entire duration of the contract’s terms, usually between 1-10 years.  Rates vary depending on the insurance company, national interest rates, and the chosen contract term.  Typically MYGA rates are higher than a CD.

A deferred annuity is broken up into two phases:

  • Accumulation: This is when you add money to your annuity, whether you pay in a lump sum or you make a series of payments. You can continue to let your account grow tax-deferred for an indefinite amount of time.
  • Distribution: This is when you begin withdrawing money from your annuity whether you take out systematic withdrawals or you annuitize to supplement your finances with a regular stream of income for life.

Why should you consider an annuity?

An annuity is a good option for individuals who are wanting to protect their earnings from market losses. Your earnings can then be used for supplemental income during retirement, guaranteed financial independence as you age, or a monetary legacy to leave behind for your loved ones. An annuity can help you continue living comfortably well into old age.

Contact us to learn more about planning your future with an annuity. We are happy to answer your questions and help begin your investment process today.

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