Fixed Annuities:
Variable Annuities:
Immediate Annuities:
Deferred Annuities:
Fixed-Indexed Annuities:
Qualified vs. Non-Qualified Annuities:
Steady Income Stream: Provides a reliable source of income, particularly beneficial during retirement when regular cash flow is essential.
Tax-Deferred Growth: Investments in annuities grow on a tax-deferred basis, meaning you won’t pay taxes on earnings until withdrawals are made.
Customizable Payout Options: Offers various payout options, including fixed payments, periodic payments, or lump sums, to match your financial needs and goals.
Protection Against Longevity Risk: Helps ensure you don’t outlive your savings by providing guaranteed income for a specified period or for the rest of your life.
Selecting the right annuity involves evaluating your financial goals, risk tolerance, and income needs. Consider factors such as the type of annuity, payout options, fees, and the financial strength of the issuing insurance company. Consulting with a financial advisor can help you understand the benefits and limitations of different annuities and choose a plan that aligns with your long-term financial objectives.