Annuities & Retirement
Turn your life savings into a reliable, predictable stream of income that is guaranteed to last for the rest of your life.
What is an Annuity?
An annuity is a long-term financial contract issued by an insurance company designed to help protect you from the risk of outliving your income in retirement.
You fund the annuity with a lump sum or series of payments, and in return, the insurer provides guaranteed periodic payments to you, either immediately or at some point in the future. It operates similarly to a personalized pension plan.
Who is it designed for?
- Individuals nearing or in retirement who want a predictable, guaranteed stream of lifetime income.
- Investors looking to protect a portion of their savings from severe stock market volatility.
- Those who have maxed out other retirement vehicles (like 401(k)s or IRAs) and are looking for additional tax-deferred growth.
At A Glance
Key Benefits
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Guaranteed Income: Acts as a personal pension, ensuring you receive a steady paycheck that you cannot outlive.
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Principal Protection: Fixed and indexed annuities protect your original investment from market downturns.
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Tax-Deferred Growth: You won't pay taxes on the earnings from your annuity until you withdraw them, allowing your money to compound faster.
Important Considerations
- Liquidity constraints: Annuities often have a surrender period where withdrawing funds early incurs a penalty fee.
- Contracts can be complex: It is highly advised to work with a licensed professional to ensure you choose the correct product type.
Common Questions
Will I lose my money if the stock market crashes?
If you hold a Fixed or Fixed Indexed Annuity, your principal is protected from market losses. Variable annuities, however, do carry market risk. We will help you identify which option matches your risk tolerance.
Can I pass the money on to my heirs?
Yes, most modern annuity contracts offer death benefit options or joint payout structures that ensure remaining funds or continued income is passed to a spouse or designated beneficiary.
Can I access my money in an emergency?
While annuities are designed for long-term retirement planning, most contracts allow you to withdraw a certain percentage (often 10%) of your account value each year without penalty.
Let's plan your future.
Take the uncertainty out of retirement. Schedule a meeting with Steve to see if an annuity makes sense for your financial portfolio.
Schedule a Free Consultation