annuities & retirement
Having trouble deciding which retirement plan is right for you or your agency? The Insurance Guys Group is here to help you choose which plan best meets your circumstances. We have worked with more than 1,000 individuals to help them achieve their retirement goals.
Retirement should be a time of adventure, discovery and fun. But there are many things to consider, including how to create a lifetime of protected income. Find out more about how an annuity can ease your transition into retirement. Annuities are financial products that guarantee a steady flow of income for retirement. They offer tax-deferred growth potential in saving for retirement and a reliable income after retirement
How do annuities work?
With a variable annuity, you choose investments that are often referred to as sub-accounts from retirement. Investment performance determines the value of the account and consequently the amount of income you receive. Investment growth is tax-delayed, which can help you accumulate more instead of paying taxes during the accumulation phase.
The performance of the underlying investment options is subject to market fluctuations and is not guaranteed. If you choose guaranteed income, you can choose income for life or for a specific period of time.
Types of Annuities
Fixed annuities, sometimes called deferred fixed annuities, provide guaranteed capital growth at a fixed rate of interest over a period of time. The growth is tax-deferred, which can help you accumulate more wealth instead of paying taxes during the savings period, and your wealth is protected from market uncertainty.
If you choose guaranteed income, you can choose income for life or for a specific period of time.
Indexed annuities provide an opportunity for growth tied to the positive return of a market index and a degree of protection when the market index is negative. .However, you do not invest directly in an index or the market. When might pension be a good option for your situation? Depending on your needs, annuities can be a good addition to your financial plan.
Variable annuities offer competitive pricing, no surrender fees, and base annuity rates that are 35% to 65% below the industry average. For an additional cost, optional life insurance can provide a guaranteed income equal to your initial investment or your annual income, depending on the annuity and plan chosen.
Finally, variable annuities offer the potential for tax-advantaged
investment growth, giving you the confidence that your wealth is protected for your beneficiaries.
Retirement planning involves not only deciding what to spend your time or doing after retirement but also making some arrangements to save enough money to ensure a smooth life after retirement. Remember that money is all you would need now to support your life and your spouse’s and to nurture your interests after retirement. Retirement planning is an art that requires smart planning at the right time. The sooner you put your money into retirement funds, the lower the monthly premium would be. However, the total amount you’ll get at retirement would be much higher. It is better not to rely on pension funds if you work for a large private company or government agency. Because the chances are that these funds will not reach the level you need to survive.
Peace of Mind
Set for Life
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