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Annuities can help address one of your fundamental concerns, outliving your savings. You get the potential to grow your savings and create guaranteed lifetime income, which may give you freedom to fulfill your retirement dreams and help with your financial peace of mind. Annuities also give you flexibility to use your money when and how you choose. They are an important part of a diversified retirement portfolio because they can minimize the volatility of market changes.
There are two types of Annuities:
Income Annuities can provide a guaranteed, reliable income stream that you cannot outlive. If you are nearing retirement age or are already retired, income annuities can help supplement your income through a series of payments throughout your lifetime or for a specific period of time.
Deferred Annuities can help you accumulate assets for retirement by offering a fixed rate of return and tax-deferred growth. With deferred annuities, your investment will never decline in value.
One of the most difficult problems in retirement is determining how much income you’ll need. Annuities provide reliable income that you can use however you wish.
Taxes on annuity earnings are deferred until you begin taking money out. That may help you minimize the amount of tax you pay.
Everyone’s situation is different. Annuities offer income options and choice of frequency so you can select what’s right for you.
We recommend consulting with your professional tax and/or legal advisor before taking any action that may have tax or legal consequences.
Many people use the money to:
An annuity may be right for you if…
You’re nearing retirement or you’re already retired
You thought saving for retirement was the hard part. Now you need a steady retirement income.
You’d like to minimize the taxes you pay on your annuity earnings
You don’t need the money right now. So, you’re looking for a way to accumulate funds while deferring tax payments.
You’re looking for an alternative to a certificate of deposit
You want your money to work hard for you. So, you’re looking for something with the potential for higher returns.