Building retirement assets takes years—and no one can predict exactly how the markets might perform. That’s why a prudent retirement strategy often includes a variety of financial products. Some, like stocks and bonds, may help you maximize opportunity when markets rise. Others may provide your portfolio with added security because, along with growth potential, they offer protection from market decline.
A fixed annuity is a contract between you and an insurance company. You provide the insurance company with a purchase payment (or series of purchase payments), and in return you receive:
Let’s take a closer look at how these advantages can help you build your retirement.
Here is an example of how market performance over a number of years would affect a fixed annuity.
Fixed annuities protect your money from market ups and downs with guaranteed rates
The value of your fixed-deferred annuity grows tax free, meaning you won’t get a yearly tax bill on your earnings. (You’ll have to pay tax on earnings once you start taking income, though.)
An annuity is the only investment that can guarantee income for life no matter how long you live.
Fixed annuities are long-term investment vehicles designed for retirement purposes. Gains from tax-deferred investments are taxable as ordinary income upon withdrawal. Guarantees are based on the claims paying ability of the issuing company. Withdrawals made prior to age 59 1/2 are subject to 10% IRS penalty tax and surrender charges may apply.
It is never too early to get started on your financial and investment planning. Tell us more about your goals, and we will get you started on a plan to achieve them.
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