Annuities

Annuities can be a vital part of your overall retirement plan. An annuity is a contract between you and an insurance company designed to help you accumulate money for retirement by taking advantage of compounding interest, and delaying or eliminating the tax you would ordinarily owe. Annuities are also commonly used to pass money on to future generations while limiting taxes due.

The advantage of postponing taxes on an investment is that your premiums (contributions) earn interest, your interest earns interest, and the money you would have paid in taxes earns interest. You accumulate more money over a shorter period of time.

Your money is safe in an annuity. Insurance companies who offer annuities must have cash on hand that is equal to the withdrawal value of your contract at all times.

You can receive money from your annuity in several ways; regular payments over a specific period of time, payments for as long as you live with the balance being passed on to your heirs, partial withdrawals or complete withdrawals without fees depending on how long you have had the contract in force.

Annuities provide protection from stock market ups and downs, tax deferred and in some cases tax free earnings, penalty free withdrawals, avoidance of probate, and lifetime income. Let us show you how an annuity can be a valuable asset in your overall financial planning.

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