Annuities
Let's Consider
Annuities For Retirement
An annuity is an insurance product that may be able to offer a source of guaranteed* lifetime income. There are a few types of annuities that offer different features. Which one is right for you depends on your own personal financial goals and needs. Our goal is to help provide you with enough information to decide if annuities for retirement could be the right option for you.
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Purchasing a Fixed Indexed Annuity For Retirement
Let’s consider a fixed indexed annuity, or FIA. An FIA tracks the performance of an index. For example, the S&P 500. And the FIA’s interest rates are based on that index. However, an FIA is a product, not an investment. Unlike investing your money directly into stocks, purchasing an FIA comes with a guarantee* of safety. However, in the long term, it can still earn you reasonable rates of return** on your money.
In this way, an FIA differs from other types of annuities. For example, a fixed annuity, which has a fixed interest rate, cannot provide potentially higher returns like an FIA. It also differs from a variable annuity, which invests money directly in the stock market, leaving it at risk. An FIA is guaranteed* safe, even in the event of a stock market downturn.
FIAs Vs IRAs and 401(k)s
Fixed indexed annuities for retirement offer a greater level of flexibility than a traditional retirement account would. An FIA comes with fewer restrictions compared to accounts such as an IRA or 401(k). For example:
- An FIA provides protection in the case of a stock market drop
- There is no contribution limit
- Your money grows tax-deferred, allowing you to keep all the money you earn
- You can potentially "roll over" the money in your 401(k) or IRA into an FIA
Reach Out to Us
Make sure that annuities for retirement are a viable option for you. Reach out to us. If you reserve a spot at an educational dinner seminar event, we can talk to you more about these products and others that may be of help to you, as well as various factors that impact your retirement. Or, if you want to discuss your own personal situation with us one-on-one, you can schedule a meeting. We can talk with you and offer you guidance based on your personal needs and goals. We’re always here to help.
