What if you OUTLIVED your income and resources? How would you prepare to deal with the financial BURDEN of your future expenses? This is one of the main concerns when approaching retirement. An annuity plan is DESIGNED to be an investment vehicle to accumulate interest on principal, tax-deferred, to provide income for future retirement. Most people believe that WEALTH is based on how much money you have access to in the present. This concept is definitely NOT accurate. TRUE wealth is determined by how much money and assets you have available to live on for the rest of your life by not having an EARNED income. With an annuity through the “annuitization phase”, cash flow is disbursed in payments based on a fixed period of time. The time period payments could be for one’s entire life or for a certain amount of years based on needs analysis recommendations.
So What Type of Annuity Will Work For Me For Retirement?
Robust Financial’s trusted advisors will help you to achieve financial prosperity through our flexible annuity plans. As a brokerage, we work with over 500 carriers that want to earn your business and find annuities that are SUITABLE to your specific situation. You could take advantage of the following types of annuities based on your risk tolerance and future needs:
Fixed Annuity :-
A plan where your principal investment and returns are guaranteed and fixed payments are initiated throughout contract period. The fixed interest rate is determined by the insurance company’s financial portfolio. This kind of annuity is available for an individual that has a low risk investment tolerance where gains are far less important than STABILITY of fund.
Fixed Indexed Annuity :-
As one of the MORE popular annuities these days, this plan yields returns on principal based on equity indexes from the S & P 500, Hang Seng Index, and Euro Stoxx 50 just to name a few! A fixed indexed annuity offers DIVERSITY in a portfolio and provides the leverage to benefit from when the market is up and protection on principal and interest credit when the market is down. This product has a semi-low risk investment tolerance where you can aggressively make index allocations while NOT losing any premium in plan. You can also get a head start on your future with premium bonus feature that most of these annuities OFFER. These bonuses could offer anywhere from 2% to 12% on initial investment!
Immediate Annuity :-
If you are looking to obtain payments right away in the “annuitization phase” from your principal, this is the plan for you. An immediate annuity allows you to make a single lump sum payment and in return the insurance company will make monthly payments to you for a CHOSEN length of time, typically for the remainder of your life! This is a ROBUST product for someone that is retiring within 12 months or someone that has been awarded lottery winnings or settlement.
Deferred Annuity :-
This annuity contract delays payments of income until an insured decides to RECEIVES benefits. This non-qualified plan will offer an individual the opportunity to receive a tax DEFERRAL on earnings and interest. This is a great product to take advantage of during the “accumulation period” and is designed for someone that doesn’t need access to fund immediately.
There are a lot of different options to pursue when it comes to which annuity will work best…… Speak with a licensed agent TODAY to go over your financial goals and help you make an EDUCATED decision for retirement options! We are here to help you WIN!