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What Are Annuities?

Another way to prepare for retirement is through annuities. This is a contract between you and an insurance company, requiring that the insurer make payments to you now or in the future. To buy an annuity, you can either make a series of payments over a specified time or pay it all up front. The payout might then come back to you in one sum or through a series of payments. 

 

There are three benefits of annuities for retirement planning:

  • Tax-deferred growth so that you don’t have to pay taxes on investment gains or the income from the annuity until the funds are withdrawn.
  • Death benefits for your beneficiaries in the case that you pass before you receive any payments from the annuity. 
  • Periodic payments that could be for the rest of your life and that of your family. 

 

There are three types of annuities: indexed, fixed and variable. Annuities are great for building  retirement funds because the periodic payments can help with living expenses since a regular stream of payments mimic the monthly earnings one is used to while working. To find out more about annuities and if they are a good retirement option, simply give us a call or send an email. We’ll gladly see if annuities are a good fit for your retirement planning portfolio and help you with other avenues as well. 

*Note: Not all benefits are available in every state, but we can provide further information on this once you contact us.

If you have any investment related questions, contact us!

At Inter-Action LLC, we put our customers and their desires first. We are driven by your needs and want to ensure your financial future

(704) 777-4865

briaction@live.com

Life Insurance

Brian Velez

 

Contact us

(704) 777-4865

briaction@live.com

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