Income for Life
What Is An Annuity Income?
An annuity income is a potential way you can pay for your lifestyle in retirement. Specifically, if you select certain types of fixed index annuities (FIA’s), you can have an income for life.
As an added benefit, your retirement savings are protected by the insurance company that issues the annuity. So, your money is safe. Additionally, some types of FIA’s allow you a reasonable rate of return.* And, because FIA’s are not dependent upon the stock market, you won’t lose your money if the market drops. What is an annuity income? It’s a way to have income for life.
With so many options to choose from, how do you know which is right for you? Choules Financial is here to help you. We will take the time to learn about your goals. In addition, we make it a top priority to educate our clients. For example, we are transparent about fees, including what you are paying now. Also, we help you understand your current rate of return and your risks. We take a balanced approach to help you determine your best retirement income options.
You may have heard some “experts” or others claim annuities are no good. However, many of these opinions are due to misinformation about what it is that an annuity income can provide. First of all, it is important to consider your risk tolerance. Although having your money in the market may be part of your retirement strategy, there are other less risky options to consider. In other words, a higher risk could possibly mean a higher rate of return. However, it also means that your money is at risk of loss. For the most part, retirees look to have at least some of their money protected. Specific types of annuities, such as fixed index annuities, can over protection as well as a reasonable rate of return.*
One important point: not all annuities are the same. Some annuity types, such as variable annuities, are actually just as risky as some stock investments. So, in the case of variable annuities, you could lose your principal if the market falls. At Choules Financial, we focus on products that help you protect your money, such as fixed index annuities and fixed annuities. By working with the top insurance companies in the industry, we help give our clients the right annuity income options for their needs. If you are looking to secure your principal yet have a reasonable rate of return, contact us to learn more.
Get Informed About Annuity Retirement Income
As a way of explaining how annuity retirement income works, we provide complimentary dinner seminars. At these events, retirees and pre-retirees can learn all about how the market works. In addition, we teach you about why annuities work differently from other types of retirement income options. Also, we provide the opportunity for you to meet with us and talk about your specific retirement needs. Working together, we’ll discuss many ideas, including:
- Stages of retirement
- Amount of liquid assets
- Cash amounts for emergencies
- Risk assessment
- Annuity income versus expenses
- And much, much more
Connect With Us
Want to know more about your options? Sign up for one of our seminars to learn more. Or, give us a call for a private consultation. What is an income annuity? Is it right for you? Let’s discuss it together.
Annuities In The Past & Annuities Now
In previous years, there were not many options for retirees in terms of annuities. Some products provided security of your principal. However, most came with a very low rate of return. Other annuities of the past may have offered better interest rates. But, those types of insurance products usually came with the risk of losing your principal. In truth, neither of these options were great for retirees. Thankfully, you now have many more possibilities in the annuity world.
Within the last decade or so, a lot has changed in the annuity industry. For example, you are now able to get an annuity that offers income for life. Another possibility: an annuity that provides protection of your money plus a reasonable rate of return.* Also, you can now select from additional annuity benefits, such as beneficiary options, income riders, and more. Or, you may be able to access the funds for other expenses. Ultimately, the landscape of annuities has changed quite a bit. Contact us today to learn how this new information may be helpful for your retirement.
*Reasonable rate of return over time.