Haven’t you worked hard to get where you are in your financial life? Don’t you want to retire with certainty and security, without worry? Did you know that you can insure your retirement just like you insure your home, life, health, and car against loss? Why wouldn’t you insure one of your most significant assets? An annuity is insurance for your retirement savings and can provide the protection you need.
An annuity is a contract between you and the insurance company. The financial strength of the insurance company’s claims-paying ability backs your annuity. An annuity is the only guaranteed retirement solution to provide income you cannot outlive.
There are many types of annuities, but the two most common annuities are fixed and variable annuities. These products have different methods of crediting interest. Variable annuities do not guarantee a return, and your contract value can go up and down based on market performance. We do not recommend these plans because we believe you should have guarantees and certainty when it comes to retirement.
We are experts in fixed and fixed-indexed annuities. Only fixed annuities can guarantee your contract value will not go down even if the market goes down. The benefit of these products is principal protection with the potential of growth based on an external index, such as the S&P500. Also, the interest you earn is protected from loss due to market fluctuations and can never be lost once it is credited to your account. Fixed and fixed-index annuities offer a guaranteed minimum interest rate and tax-deferred growth. With fixed annuities, you lock in an interest rate for a specific period and then can determine how you want to take money out of your annuity. If you go with a fixed index annuity, you will receive tax benefits, a reliable source of income, and a potential hedge against inflation. Depending on the product, you can also elect a lifetime income benefit.
Every retirement dream is different; everyone’s situation, financial goals, and needs are unique. However, many retirees share the same objectives – they desire a reliable income source that provides asset protection to confidently plan for the future.
Here are several things to consider when thinking about what your retirement picture looks like and how an annuity could be an essential part of the puzzle:
- Do you have more than one source of guaranteed income for retirement?
- What if you could capture a portion of the market upside down without losing money in the down years?
- What level of risk are you willing to take with your retirement portfolio?
- Did you know losses impact portfolios even more as we approach retirement? How much time do you have to earn back if you experience a loss?
- If you had a health issue, would additional monthly income be helpful?
- Do you know what your expenses will be in retirement?
- Are you concerned about a potential market downturn?
- Have you thought about how inflation can impact your retirement?
- Do you know what your beneficiaries will receive if you die?
Look at this video for a simple comparison between putting your retirement dollars in a Certificate of Deposit, the Stock Market, or an Annuity.
Our focus is to provide you with safe and secure options to ensure your retirement is stress-free. Give us a call and let us show you how we can put these smart strategies to work for you!
