Annuities
Annuities
For Retirement
Developing a retirement strategy can be a difficult process. You may be unaware of some of the options available, options that could help you simplify your retirement strategy and offer you more confidence in retirement. Annuities for retirement can provide interest at a reasonable rate of return** while also protecting the principal. Our primary goal is to help you find the right options for you, and if you think an annuity may be worth considering, please reach out to us.
Fixed Indexed Annuities For Retirement
Fixed indexed annuities (FIAs) are one type of annuity contract. FIAs offer guaranteed* income protection and indexed interest at a reasonable rate.** Your interest rate will rise in response to the performance of an index, allowing you to earn greater returns whenever the index rises. However, if the index falls, your FIA will not incur any losses. Crucially, FIAs are not financial investments. Even if the market crashes, the money in your annuity is safe. * This stability, along with other benefits, is one of the primary reasons why many people choose fixed indexed annuities for retirement.
FIAs Vs Retirement Plan Accounts
FIAs and traditional retirement plan accounts, such as 401(k)s and IRAs, are very different. Compared to these other options, FIAs could offer greater flexibility in the following ways:
- Protection in the event of a market drop
- No contribution limits
- Your money grows tax-deferred (meaning you won't pay taxes on the money until you withdraw it)
- You could potentially "roll over" the money from your 401(k) or IRA into an FIA
Annuities and Taxes
Interest on your annuity is tax-deferred. This means you only pay taxes when you withdraw the money. There may be additional tax benefits available. For example, if you received a lump sum payout from an employer-issued 401(k), you might be able to defer taxes by transferring the funds to an FIA. However, this is something you should discuss with a qualified tax advisor.
Are you considering purchasing an annuity for retirement? Contact us for more information. Attend one of our informational seminar events or schedule a private meeting to discuss your situation and whether an FIA could be the right option for you.
