UNDERSTANDING ANNUITIES

An annuity is a program offered by an insurance carrier that can provide you with a number of different financial strategies that can assist with your retirement planning.  

 

This includes; 

1. The opportunity to receive higher growth potential similar to a program that invests in the market, but without      risking your own money.  

2. An annuity can be used to create a steady income stream much like a pension plan, that you cannot outlive.

 

 

 

 

The key is how you use it to help you and your family, and should only be designed by a Trusted Financial Professional!  That's where we come in! 

If you have a 401k, IRA or Roth IRA, you probably feel like you’re doing everything you can to be financially prepared for retirement, right? Well, maybe you are. However, at some point along the way, you might also be better off by incorporating a properly designed annuity option into your savings plan.

"What you don't know will hurt you!" 

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Types of Annuities  

 

There are a number of different categories of Annuities available for you today, and there are far more choices than there used to be.  As a result,  there is a lot of misinformation about annuities, much of which may be perpetrated by "pitch men" to help them sell you on other options. Unfortunately, most of what you here simply is not true.  More importantly, while many annuities offer similar benefits such as income tax deferral on earnings, there are a plethora of different methods you can use to take advantage of what an annuity can do for you.  

 

Below are generic characteristics of most annuities that are currently available on the market.That said, at Financial 411 we always use the plans that fit appropriately into your specific plan to make sure you achieve the results you deserve. 

Types of Annuities (continued)

 

Deferred Annuities - Allow you to save money for retirement or other reasons, while deferring income taxes on your earnings until you withdraw the earnings. The deferral of taxes maybe an advantage over other investment opportunities. 

 

Immediate Annuities - Allow you to create a stream of payments for the period you choose.  For example, if you received money from an inheritance, the sale of property, or life insurance proceeds, you can use that money to set up an immediate annuity to provide you with monthly income payments for the rest of your life. Both deferred and immediate annuities offer several types of products:

 

 

Fixed Annuities -  Savings Plans guaranteed to earn a minimum interest rate. They are the lowest financial risk and offer conservative returns.

 

Fixed-indexed Annuities - These plans have the possibility to earn a higher interest rate based on the performance of a market-indices (index), but there isn't a guaranteed minimum interest rate. They are low-to-moderate risk and offer moderate returns. 

 

Variable Annuities - Offer choices between sub-accounts (similar to mutual funds.), to offer higher earnings potential, but there isn’t a guaranteed return. Variable annuities are often laden with fees and expenses, and often have greater risk because there’s a chance you could lose some or all of your money.

You Create What Your Retirement Will Look Like By What You Do Today!                                               "If You Do Nothing You Get Nothing!"

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