Integrate annuities for longevity during retirement

Annuities are a powerful tool for ensuring steady income during retirement. By investing in an annuity, you can enjoy financial security and peace of mind, knowing that your future is well-planned and with guranteed income for life. 

What are Annuities?

Annuities are financial Instruments that provide a guaranteed income stream, typically used for retirement. They are designed to provide a steady income stream to individuals over a specified period of time often in retirement, with options for lifetime payout. Below are the advantages of annuities.

Fixed Index Annuities

Offer guaranteed payout that doesn’t fluctuate. Offering inflation protection options and Tax-deferred growth with principal protection.

Split/Funded Annuities

A financial instrument designed for an immediate pay out options, while the other half of your retirement nest egg invested with tax-deferred growth while compounding with inflation protection options.

Single Premium Immediate Annuities

SPIAs provide a reliable income stream that can help protect against the risk of outliving your savings (longevity risk). This makes them particularly popular for retirees who want a predictable source of income for the remainder of the individual’s life.

Multi-Year Guarantee Annuities

MYGAs are suitable for the conservative retired individual who prioritizes principle protection and guaranteed rate of return over potential higher gains that come with market- linked investments.

DEFINITION

Fixed Index Annuities

A Fixed Index Annuity offers growth potential linked to a market index, such as the S&P 500, while protecting your principle from market downturns. Unlike traditional fixed annuities, FIAs provide the opportunity to earn higher interest based on the performance of a specific index. However, it also includes a guaranteed minimum interest rate, ensuring you won’t lose your investment. 

DEFINITION

Multi-Year Guarantee Annuities

A Multi-Year Guarantee Annuity provides a fixed interest rate for a predetermined period, typically ranging from 3 to 10 years. MYGAs are ideal for those seeking stable, predictable growth on their investment without the risks associated with market fluctuations. At the end of the guaranteed period, you can choose to renew the annuity, withdraw the funds, or convert it into a stream of periodic payments. 

DEFINITION

Single Premium Immediate Annuities

With a Single Premium Immediate Annuity, you make a one-time lump sum payment in exchange for a guaranteed income stream that begins almost immediately, typically within a year. SPIAs are beneficial for individuals who need to convert a substantial amount of cash, such as from a retirement account or inheritance, into a reliable income source cover living expenses or other financial needs in retirement.

DEFINITION

Split/Funded Annuities

A Split Annuity strategy involves dividing a lump sum into two parts: one part funds an immediate annuity to provide income right away, and the other part is invested in a deferred annuity to provide growth over time. This combination allows you to enjoy immediate income while also ensuring future growth and income, balancing both short-term and long-term financial needs. 

Benefits of Annuities

Advantages of Annuities

Annuity Payout Options

Choosing Your Payout Options

How to Choose the right annuity

Selecting the Right Annuity

When choosing an annuity, consider your retirement goals, age, and risk tolerance. Consulting our team can help you tailor the right annuity to your specific needs. 

Locked in Growth

All crediting strategies automatically reset on an annual or biennial basis, depending on the strategy term, at which time any earned interest is locked in and cannot be lost due to index declines.

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Withdrawal Rate Risk

The future value of investor assets, such as stocks, mutual funds and even bonds are not guaranteed. If a withdrawal is taken while the market is down, it will take an increase in value much greater than the decrease for the portfolio to recover.

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Frequently asked questions (faq)

Frequently Asked Questions

We are always ready to answer any questions you have, feel free to look at some common questions that you may already have in mind. 

Minimum Investment?

Varies by product, typically starting around $10,000.

Accessing Money?

Some annuities allow for partial withdrawals.

Taxation?

Earnings grow tax-deferred until withdrawal.

What is the best age to start?

It is intended for someone who is coming upon retirement. This reason is because payments will begin within a year of purchase.  Overall the right time to buy an annuity is different for everyone. 

Ready for the next step?

Feel free to contact us anytime – (509) 552-5887