ANNUITIES & RETIREMENT
Savings is a number. Retirement is an income.
The hard part of retirement is not accumulating a figure. It is turning that figure into money that arrives every month for as long as you live, without having to guess how long that will be.
WHAT IT IS
Fixed, indexed, immediate and deferred
An annuity is a contract with an insurance company. You hand over a sum, and in exchange the insurer agrees to credit interest and, when you choose, to pay you an income — in some cases for the rest of your life, however long that turns out to be. That longevity guarantee is the thing an ordinary savings account cannot offer.
A fixed annuity credits a set rate. A fixed indexed annuity credits interest based on the movement of a market index, with a floor so a bad year does not reduce your principal, and a cap or participation rate that limits what you receive in a good one. An immediate annuity starts paying almost straight away; a deferred one starts later.
These are insurance contracts, not investments, and we are an insurance agency rather than an investment adviser. Where your situation calls for securities advice or tax planning, we will tell you so and suggest you speak to the right professional.
Who it is for
People at or approaching retirement who want part of their income guaranteed.
What it is
An insurance contract, not a market investment or a bank deposit.
Backed by
The issuing insurer’s claims-paying ability, plus your state guaranty association. Not FDIC-insured.
Our role
Insurance products only. We are not an investment adviser and do not give tax advice.
Is this you?
- You are within ten years of retiring and have not worked out the income side.
- You have savings that need to last and no idea how long that is.
- You hold an annuity already and have never had it explained to you.
- You want part of your retirement income to be guaranteed, not probable.
- Somebody has suggested you move a 401(k) and you want a second opinion.
If any of these sound familiar, a 10-minute conversation will cost you nothing and probably answer more than you expect.
WHAT WE HELP WITH
What a retirement review covers
01
Fixed annuities
A set credited rate for a set term, for the part of your money that should not move.
02
Fixed indexed annuities
Index-linked crediting with a floor and a cap, explained with the actual cap, participation rate and spread rather than a brochure.
03
Immediate income
Converting a lump sum into payments that begin now, which is often the simplest answer to the longevity question.
04
Deferred income
Setting up an income stream to begin at a chosen age later, so you know what will be waiting.
05
Indexed universal life
Where permanent life cover with cash value serves a retirement purpose as well as a protection one.
06
What you already hold
Existing annuities, 401(k)s and IRAs read properly before anybody suggests moving anything.
Common questions
Is my money safe?
Annuities are backed by the issuing insurance company’s claims-paying ability and, within state limits, a guaranty association. They are not bank deposits and they are not FDIC-insured. Carrier financial strength matters, and we will show you the ratings.
Can I get to my money if I need it?
Most contracts allow a free withdrawal each year, commonly around ten per cent, with a surrender charge above that during the surrender period. We will tell you the exact figures before you commit.
What is a surrender charge?
A fee for withdrawing more than the free amount during the early years of the contract. It usually declines annually until it disappears.
How are annuities taxed?
Growth is generally tax-deferred until withdrawn, and the treatment differs between qualified and non-qualified money. We are not tax advisers — confirm your own position with a CPA.
Is this an investment?
No. It is an insurance contract. We are licensed for insurance products, not securities, and we will say plainly when a question belongs with an investment adviser.
Should I roll over my 401(k)?
Sometimes yes, often no. It depends on the fees, the guarantees and what you would be giving up. We will lay the comparison out and you can take it away and think about it.
Let's start with teb minutes
No cost, no pressure, and nothing sold on the first call. We listen first.
No cost · No pressure · Phone or video, wherever you are