Annuities

What are Annuities

“Your money can do three things………Go Up, Go Down, or Stay the Same. If you could eliminate one of those three, which would it be??? Mos people tell me they would eliminate “Go Down”

 Call Mark to discuss how an annuity could fit into your unique financial world

– Immediate Annuities and Deferred annuities. We most often use these insurance products to turn a retirement asset such as a 401(k) into retirement income either now or in the future. Simply put, we use annuities to turn your retirement money into a lifetime pension. Unlike retirement accounts such as 401(K)’s which can lose money, we use annuities that do not lose money. Has your financial person spoken to you about a product that either stays the same in value or goes up in value?

Always remember, once you stop working your retirement accounts are not about the asset, but it is about your retirement income. 401(k)’s and other like retirement accounts can run out of money but the income from an annuity does not.

An example of how we use an Immediate Annuity would be this: A person retires from work and has a 401(K), SEP IRA, regular IRA or other never been taxed retirement account. We would choose the proper Immediate Annuity to turn the retirement asset into immediate retirement income that will never run out like a pension.

An example of a Deferred Annuity would be this: a person works for a company for a few years and saved money in the companies 401(k). The person then leaves the company and does not want to leave the 401(k) behind. We can transfer the funds from the 401(k) to a deferred annuity which keeps growing without taxes just the same as the 401(k) until the person gets to retirement age and needs income.

For more information schedule time to Contact Mark about how an annuity may fit into your unique financial plan.