When planning your financial future, safeguarding your family’s interests is likely your top priority. Various financial tools, from life insurance to retirement accounts, are designed to provide a safety net for you and your loved ones. One such instrument that often doesn’t get enough attention but holds significant benefits for the whole family is an […]
What is an annuity?
An annuity is an insurance product that can provide you with a stream of payments for a set period of time, typically after you retire. The payments are made either for a specific number of years or for the rest of your life.
Learn more about annuities from our financial advisors below.
Annuities may offer a predictable income stream, which is particularly useful for retirement planning. However, purchasing an annuity is a significant financial decision that requires thoughtful consideration and planning. Here’s a step-by-step guide to help you through the process. Step 1: Assess Your Needs Start by conducting a risk assessment. Use this to gauge what […]
The topic of inheritance and taxes—always a fun one to navigate, isn’t it? Like many things in life, there are obstacles, and you will need to make choices. Inheriting an annuity can certainly bring up a mix of emotions, and the last thing anyone wants is for the IRS to crash the party. When you […]
Are Annuities Better? They may not be the sexiest of investments, but when you need a consistent performance, they might be a viable option. When you buy stock in a company, you’re essentially buying a small piece of that company, making you a shareholder. Now, some companies like to share the wealth they generate by […]
Annuities may serve as a powerful financial tool for those looking to secure a stable, long-term income—often in the context of retirement. While they offer the prospect of guaranteed income and tax-deferred growth, their complex nature makes them vulnerable to misunderstandings. Unfortunately, this complexity provides fertile ground for unscrupulous brokers and agents to exploit the […]
Tailoring Your Retirement Plan to Fit Your Needs You’ve spent a lifetime working hard and saving diligently. As retirement approaches, you’re looking to secure your financial future. After all, you’d like your retirement to be a time of relaxation and enjoyment rather than financial stress. But here’s the thing: traditional methods of saving and investing […]
Implications and Smart Strategies When it comes to retirement planning, annuities offer a sense of security, providing a steady income stream for the retiree. However, understanding the tax implications of annuities may significantly affect the net income one receives. Taxation policies around annuities are complex and may vary based on the type of annuity, how […]
How Annuities Boost Your Retirement Savings The word “retirement” often conjures images of sandy beaches, leisurely hobbies, and quality time with loved ones. However, the pathway to such a comfortable retirement is paved with wise financial decisions. One of these decisions centers on tax advantages and, more specifically, the role of annuities. Let’s delve into […]
Addressing Retirees’ Main Concerns In an age where financial uncertainty seems to be the norm, retirees face numerous concerns regarding their financial security during the golden years. Transitioning from regular income to relying on savings and investment returns may be daunting for many. This is where fixed annuities come into play as a potential solution. […]
A Solution to Retirement Income Challenges In the evolving landscape of retirement planning, the concern about having enough money to last through retirement is one of the most pressing issues for many individuals. With the uncertainties of market volatility, the erosion of traditional pension systems, and increasing life expectancies, ensuring a steady income stream throughout […]