If you’re like most investors, market volatility can really set you on edge. Especially if you’re concerned about how a deflated market might impact the income you’ll need during retirement. The idea of having a guaranteed income stream can be very appealing for those who hope to hedge their investments against loss and the possibility of outliving their money. Cue the Annuity.
What's an Annuity Anyway?
Even though they are an insurance-based product, Income Annuities sometimes feel like investments (because many have investment-like qualities when saving for retirement). They’re actually a long-term insurance contract designed to provide you with income for as long as you live (which sounds pretty great, right)?
Unfortunately, because of their complexities there tends to be a lot of conflicting information about annuities. Some - rightfully so - have gotten a bad rap as being expensive or difficult to decipher. This helpful, informative brochure (click to download the PDF) debunks several of the myths and misperceptions about annuities. Hopefully, it will give you a better understanding of whether considering if an annuity could be a good fit for you.
As always, our goal is to educate and guide investors so they’re able to make informed decisions about their future. If you’d like more information about annuities or retirement planning, or if you’d like to explore the benefits of working with a financial professional, give us a call. We’re passionate about what we do, and we’d love to help YOU!
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Annuities are long-term investments suitable for retirement funding and are subject to market fluctuations and investment risk, including the possibility of loss of principal. Annuities generally contain fees and charges which include, but are not limited to, mortality and expense risk charges, sales and surrender charges, administrative fees, charges for optional benefits and riders, and annual contract fees. Annuity guarantees, including guarantees associated with benefit riders are subject to the claims-paying ability of the insurance company. Surrender charges may apply if money is withdrawn before the end of the contract. All withdrawals of tax-deferred earnings are subject to current income tax, and, if made prior to age 59½, may also be subject to a 10% federal income tax penalty.
Can I Avoid a Deflated Market?
September 23, 2022