Annuities

What are Annuities?

Annuities serve as a unique investment tool, offering a reliable income stream during retirement. By purchasing an annuity, individuals ensure they receive regular payments for life after retiring.

Why are Annuities Important?

Guaranteed Income For Life:

Annuities provide a dependable monthly paycheck throughout retirement, akin to a social security check. Regardless of life expectancy, annuities continue to pay out, offering financial security for the long term.

Tax Deferment:

Annuities allow for tax deferment during the accumulation phase, meaning taxes on earned interest are deferred until distributions begin. This compounding interest can lead to greater gains over time compared to annual tax payments.

Different Types of Annuities

Fixed Annuity:

Fixed annuities offer a guaranteed rate of return, unaffected by market fluctuations. While they may yield slower growth rates, they provide stability and security over time.

Variable Annuity:

Tied to market-based securities, variable annuities offer the potential for significant growth over the long term. However, they carry higher risk compared to fixed annuities.

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