Annuities

An annuity is an investment option provided by insurance companies that offers a series of future payments in exchange for deposits over time or a lump sum.

Highly customizable, annuities vary in terms of interest rates, premiums, taxes, and payout structures. When selecting an annuity, consider factors such as your retirement timeline, the need for immediate access to funds, and your risk tolerance.

Annuities offer a flexible tool for managing retirement savings and income.

• Growth Potential: Even if you’ve maxed out contributions to 401(k)s and IRAs, annuities can help grow your retirement savings without annual IRS limits.
• Reliable Income: In retirement, annuities can provide a steady cash flow, similar to a paycheck during your working years.

Given market volatility, inflation, and rising interest rates, many people seek predictable income solutions. Annuities can enhance retirement savings or offer dependable income streams. . They provide guarantees, security, and flexibility in managing distributions and accessing funds.

Annuities can also offer reduced market volatility risk, or you may even consider starting to purchase annuities that provide an income stream at a date you set in the future.  Ultimately, these products can help manage retirement risks, including the possibility of outliving your savings and the risk that inflation will eat away at your savings.

Annuities can be a dependable source of income during retirement. Various types are available, each offering distinct features, risks, and benefits.

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